Rivian Automotive (NASDAQ:RIVN) Stock Price Up 1.4%

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) rose 1.4% during trading on Tuesday . The stock traded as high as $8.71 and last traded at $8.52. Approximately 19,952,991 shares changed hands during trading, a decline of 54% from the average daily volume of 43,172,215 shares. The stock had previously closed at $8.40.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Rivian Automotive from $18.00 to $14.00 and set an "equal weight" rating for the company in a research report on Thursday, February 22nd. Evercore ISI dropped their target price on Rivian Automotive from $35.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, February 22nd. Barclays dropped their target price on Rivian Automotive from $16.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, February 26th. Truist Financial reaffirmed a "hold" rating and issued a $11.00 target price on shares of Rivian Automotive in a research report on Friday. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Rivian Automotive in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $19.91.

Rivian Automotive Trading Up 3.7 %

The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90. The company has a market cap of $8.51 billion, a price-to-earnings ratio of -1.52 and a beta of 1.88. The business has a 50 day simple moving average of $11.98 and a 200 day simple moving average of $16.14.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating analysts' consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. As a group, equities analysts forecast that Rivian Automotive, Inc. will post -4.8 EPS for the current year.

Insider Activity

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the sale, the insider now directly owns 407,787 shares in the company, valued at $5,223,751.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jeff Baker sold 31,425 shares of Rivian Automotive stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the sale, the chief accounting officer now directly owns 52,415 shares in the company, valued at $690,829.70. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock valued at $717,274 over the last three months. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Rivian Automotive

A number of hedge funds have recently added to or reduced their stakes in RIVN. Eaton Vance Management boosted its holdings in Rivian Automotive by 6.8% in the 1st quarter. Eaton Vance Management now owns 7,843 shares of the electric vehicle automaker's stock worth $394,000 after buying an additional 497 shares during the period. Gould Capital LLC boosted its stake in shares of Rivian Automotive by 32.6% in the second quarter. Gould Capital LLC now owns 2,035 shares of the electric vehicle automaker's stock worth $34,000 after buying an additional 500 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Rivian Automotive by 9.1% in the 1st quarter. D.A. Davidson & CO. now owns 6,176 shares of the electric vehicle automaker's stock worth $310,000 after purchasing an additional 515 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in Rivian Automotive by 1.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 35,904 shares of the electric vehicle automaker's stock worth $662,000 after purchasing an additional 577 shares during the period. Finally, Salem Investment Counselors Inc. raised its holdings in Rivian Automotive by 1,329.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker's stock worth $32,000 after purchasing an additional 585 shares during the period. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.