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

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) was up 1.4% on Tuesday . The stock traded as high as $11.22 and last traded at $10.47. Approximately 35,682,955 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 41,780,254 shares. The stock had previously closed at $10.33.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Mizuho reaffirmed a "neutral" rating and issued a $12.00 price target on shares of Rivian Automotive in a report on Monday, March 25th. The Goldman Sachs Group decreased 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 note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $15.00 price objective on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Piper Sandler raised shares of Rivian Automotive from a "neutral" rating to an "overweight" rating and upped their target price for the company from $15.00 to $21.00 in a research note on Friday, March 15th. Finally, UBS Group upgraded shares of Rivian Automotive from a "sell" rating to a "neutral" rating and set a $9.00 price target for the company in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.57.

Rivian Automotive Stock Down 0.8 %

The business's fifty day simple moving average is $10.37 and its 200 day simple moving average is $15.04. 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 stock has a market cap of $10.02 billion, a price-to-earnings ratio of -1.79 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, beating analysts' consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Equities analysts forecast that Rivian Automotive, Inc. will post -4.77 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the sale, the chief accounting officer now directly owns 52,415 shares in the company, valued at $690,829.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jeff Baker sold 31,425 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the transaction, the chief accounting officer now owns 52,415 shares of the company's stock, valued at approximately $690,829.70. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock worth $717,274 in the last quarter. Corporate insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in shares of Rivian Automotive by 18.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 215,885 shares of the electric vehicle automaker's stock valued at $5,242,000 after buying an additional 34,044 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Rivian Automotive by 2.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 101,040 shares of the electric vehicle automaker's stock valued at $2,453,000 after acquiring an additional 2,724 shares during the last quarter. Xponance Inc. grew its position in shares of Rivian Automotive by 30.5% in the 3rd quarter. Xponance Inc. now owns 24,084 shares of the electric vehicle automaker's stock valued at $585,000 after acquiring an additional 5,622 shares during the period. Raymond James & Associates increased its stake in shares of Rivian Automotive by 1.2% during the 3rd quarter. Raymond James & Associates now owns 239,852 shares of the electric vehicle automaker's stock worth $5,824,000 after purchasing an additional 2,947 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Rivian Automotive by 22.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 271,029 shares of the electric vehicle automaker's stock valued at $6,581,000 after acquiring an additional 49,373 shares during the period. Institutional investors own 66.25% of the company's stock.

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.