Rivian Automotive (NASDAQ:RIVN) Stock Price Up 9.1%

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price rose 9.1% on Monday . The company traded as high as $11.19 and last traded at $10.90. Approximately 33,354,902 shares were traded during trading, a decline of 21% from the average daily volume of 42,393,246 shares. The stock had previously closed at $9.99.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RIVN. Robert W. Baird dropped their price target on Rivian Automotive from $30.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company cut their target price on shares of Rivian Automotive from $14.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, May 8th. DA Davidson dropped their price objective on shares of Rivian Automotive from $19.00 to $17.00 and set a "neutral" rating for the company in a research note on Thursday, February 22nd. Truist Financial restated a "hold" rating and issued a $10.00 target price (down from $11.00) on shares of Rivian Automotive in a report on Thursday, May 2nd. Finally, Bank of America lowered their price target on shares of Rivian Automotive from $40.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $19.00.

Rivian Automotive Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71. The firm has a fifty day simple moving average of $10.30 and a 200 day simple moving average of $14.85. The company has a market capitalization of $10.65 billion, a PE ratio of -1.89 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. Equities analysts anticipate that Rivian Automotive, Inc. will post -4.77 EPS for the current year.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 2,946 shares of the company's stock in a transaction that occurred 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. In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the sale, the chief accounting officer now directly owns 52,415 shares of the company's stock, valued at $690,829.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 155,749 shares in the company, valued at approximately $2,523,133.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,306 shares of company stock valued at $717,274. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Rivian Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC acquired a new position in shares of Rivian Automotive during the third quarter valued at about $27,000. Bear Mountain Capital Inc. purchased a new position in shares of Rivian Automotive in the fourth quarter worth $26,000. First Horizon Advisors Inc. lifted its stake in shares of 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 worth $32,000 after buying an additional 1,245 shares during the period. Principal Securities Inc. purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at $33,000. Finally, Arlington Trust Co LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

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.