Rivian Automotive (NASDAQ:RIVN) Trading Up 1.7%

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price rose 1.7% during mid-day trading on Monday . The company traded as high as $9.41 and last traded at $9.19. Approximately 12,799,366 shares changed hands during trading, a decline of 69% from the average daily volume of 41,933,473 shares. The stock had previously closed at $9.04.

Wall Street Analyst Weigh In

RIVN has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Rivian Automotive from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Thursday, April 4th. JPMorgan Chase & Co. lowered Rivian Automotive from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $20.00 to $11.00 in a research report on Thursday, February 22nd. Piper Sandler upgraded Rivian Automotive from a "neutral" rating to an "overweight" rating and increased their target price for the company from $15.00 to $21.00 in a research report on Friday, March 15th. Jefferies Financial Group initiated coverage on Rivian Automotive in a research report on Thursday, March 7th. They set a "buy" rating and a $16.00 target price on the stock. Finally, Robert W. Baird decreased their target price on Rivian Automotive from $30.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.61.

Rivian Automotive Stock Performance

The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $10.83 and a 200 day moving average price of $15.48. The firm has a market cap of $9.17 billion, a PE ratio of -1.60 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.67) by $0.09. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. As a group, equities research analysts expect that Rivian Automotive, Inc. will post -4.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 2,946 shares of the firm's 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 directly 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 can be accessed through the SEC website. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the transaction, the insider now directly owns 407,787 shares of the company's stock, valued at approximately $5,223,751.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the business's 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 sale, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,306 shares of company stock valued at $717,274. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Rivian Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. increased its stake in Rivian Automotive by 8.2% during the fourth quarter. Federated Hermes Inc. now owns 8,559 shares of the electric vehicle automaker's stock worth $201,000 after purchasing an additional 651 shares during the period. Moneta Group Investment Advisors LLC increased its stake in Rivian Automotive by 5.3% during the third quarter. Moneta Group Investment Advisors LLC now owns 13,335 shares of the electric vehicle automaker's stock worth $324,000 after purchasing an additional 668 shares during the period. Laidlaw Wealth Management LLC increased its stake in Rivian Automotive by 7.5% during the fourth quarter. Laidlaw Wealth Management LLC now owns 10,263 shares of the electric vehicle automaker's stock worth $241,000 after purchasing an additional 718 shares during the period. Jamison Private Wealth Management Inc. increased its stake in Rivian Automotive by 10.8% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 7,446 shares of the electric vehicle automaker's stock worth $175,000 after purchasing an additional 727 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Rivian Automotive by 13.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,416 shares of the electric vehicle automaker's stock worth $156,000 after purchasing an additional 775 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.