Rivian Automotive (NASDAQ:RIVN) Trading Up 3.4%

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price rose 3.4% during trading on Tuesday . The stock traded as high as $9.13 and last traded at $9.09. Approximately 11,523,041 shares were traded during trading, a decline of 73% from the average daily volume of 42,559,816 shares. The stock had previously closed at $8.79.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RIVN shares. Morgan Stanley lowered their target price on Rivian Automotive from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Thursday, April 4th. Evercore ISI decreased 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. Piper Sandler raised Rivian Automotive from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $15.00 to $21.00 in a research note on Friday, March 15th. Robert W. Baird cut their target price on Rivian Automotive from $30.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, February 22nd. Finally, Jefferies Financial Group started coverage on shares of Rivian Automotive in a report on Thursday, March 7th. They set a "buy" rating and a $16.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.61.

Rivian Automotive Trading Up 2.8 %

The stock has a market cap of $8.84 billion, a P/E ratio of -1.57 and a beta of 1.88. The firm's fifty day moving average price is $11.39 and its two-hundred day moving average price is $15.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping the consensus estimate of ($1.67) by $0.09. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. As a group, equities research analysts forecast that Rivian Automotive, Inc. will post -4.79 EPS for the current year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the sale, the chief financial officer now owns 155,749 shares of the company's stock, valued at $2,523,133.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Claire Mcdonough sold 2,946 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the sale, the chief financial officer now owns 155,749 shares of the company's stock, valued at approximately $2,523,133.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Insiders have sold 54,306 shares of company stock valued at $717,274 over the last three months. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Advisor Solutions LLC grew its position in Rivian Automotive by 17.9% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,239 shares of the electric vehicle automaker's stock valued at $297,000 after purchasing an additional 1,861 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Rivian Automotive by 150.2% during the third quarter. AE Wealth Management LLC now owns 49,084 shares of the electric vehicle automaker's stock valued at $1,192,000 after acquiring an additional 29,464 shares in the last quarter. DnB Asset Management AS raised its holdings in Rivian Automotive by 13.9% in the 3rd quarter. DnB Asset Management AS now owns 99,666 shares of the electric vehicle automaker's stock worth $2,420,000 after acquiring an additional 12,198 shares during the last quarter. Friedenthal Financial bought a new position in Rivian Automotive in the 3rd quarter valued at approximately $773,000. Finally, Private Trust Co. NA boosted its stake in Rivian Automotive by 2,117.6% during the 3rd quarter. Private Trust Co. NA now owns 1,885 shares of the electric vehicle automaker's stock valued at $46,000 after purchasing an additional 1,800 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

About Rivian Automotive

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.