Rivian Automotive (NASDAQ:RIVN) Shares Up 0.3%

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) rose 0.3% on Monday . The stock traded as high as $10.50 and last traded at $10.10. Approximately 13,042,476 shares changed hands during trading, a decline of 69% from the average daily volume of 41,657,898 shares. The stock had previously closed at $10.07.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Bank of America cut their target price on Rivian Automotive from $40.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group cut their price target on shares of Rivian Automotive from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday, January 25th. JPMorgan Chase & Co. lowered Rivian Automotive from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $20.00 to $11.00 in a report on Thursday, February 22nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price objective on shares of Rivian Automotive in a report on Wednesday, April 3rd. Finally, Stifel Nicolaus reduced their price target on Rivian Automotive from $23.00 to $18.00 and set a "buy" rating for the company in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.57.

Rivian Automotive Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. The firm's 50 day moving average price is $10.40 and its two-hundred day moving average price is $15.13. The company has a market cap of $10.10 billion, a P/E ratio of -1.76 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results 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 analyst estimates of $1.28 billion. Equities research analysts anticipate that Rivian Automotive, Inc. will post -4.77 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

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

Institutional Investors Weigh In On Rivian Automotive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new position in Rivian Automotive in the 3rd quarter worth approximately $27,000. Bear Mountain Capital Inc. bought a new stake in shares of Rivian Automotive during the fourth quarter valued at about $26,000. First Horizon Advisors Inc. grew its stake in Rivian Automotive by 1,537.0% during the third quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker's stock valued at $32,000 after acquiring an additional 1,245 shares in the last quarter. Principal Securities Inc. bought a new position in Rivian Automotive in the 4th quarter worth about $33,000. Finally, Arlington Trust Co LLC bought a new position in shares of Rivian Automotive in the fourth quarter worth approximately $35,000. 66.25% of the stock is currently owned by 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.

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