CenterBook Partners LP acquired a new position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 184,228 shares of the electric vehicle automaker's stock, valued at approximately $4,473,000.
A number of other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in Rivian Automotive by 31.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,502 shares of the electric vehicle automaker's stock valued at $528,000 after purchasing an additional 2,532 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Rivian Automotive by 9.1% during the 1st quarter. D.A. Davidson & CO. now owns 6,176 shares of the electric vehicle automaker's stock valued at $310,000 after purchasing an additional 515 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Rivian Automotive in the 1st quarter valued at $493,000. MetLife Investment Management LLC acquired a new stake in shares of Rivian Automotive in the 1st quarter valued at $231,000. Finally, Rhumbline Advisers increased its stake in shares of Rivian Automotive by 5.3% in the 1st quarter. Rhumbline Advisers now owns 132,021 shares of the electric vehicle automaker's stock valued at $6,633,000 after buying an additional 6,690 shares during the period. Institutional investors own 62.79% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $19.00 target price (down from $29.00) on shares of Rivian Automotive in a research note on Wednesday, January 17th. Wells Fargo & Company reduced their price target on Rivian Automotive from $24.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 8th. Wolfe Research restated a "peer perform" rating on shares of Rivian Automotive in a research report on Thursday, January 4th. Needham & Company LLC reduced their price target on Rivian Automotive from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group reduced their price target on Rivian Automotive from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Rivian Automotive presently has an average rating of "Moderate Buy" and a consensus target price of $26.81.
Check Out Our Latest Stock Report on Rivian Automotive
Rivian Automotive Price Performance
Shares of NASDAQ RIVN opened at $16.30 on Monday. The business's 50 day moving average price is $18.68 and its two-hundred day moving average price is $19.51. The company has a market cap of $15.61 billion, a PE ratio of -2.70 and a beta of 2.07. The company has a quick ratio of 3.64, a current ratio of 4.61 and a debt-to-equity ratio of 0.26. Rivian Automotive, Inc. has a twelve month low of $11.68 and a twelve month high of $28.06.
Rivian Automotive Profile
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Free Report)
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.
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