Segantii Capital Management Ltd Makes New $1.93 Million Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Segantii Capital Management Ltd purchased a new position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,200 shares of the electric vehicle automaker's stock, valued at approximately $1,928,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bear Mountain Capital Inc. purchased a new position in Rivian Automotive in the 4th quarter worth approximately $26,000. Ancora Advisors LLC purchased a new position in Rivian Automotive in the third quarter worth $27,000. First Horizon Advisors Inc. increased its stake in Rivian Automotive by 1,537.0% in 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 during the last quarter. Arlington Trust Co LLC purchased a new stake in Rivian Automotive during the fourth quarter valued at about $35,000. Finally, Parkside Financial Bank & Trust lifted its stake in Rivian Automotive by 86.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker's stock worth $40,000 after purchasing an additional 784 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.

Analyst Upgrades and Downgrades

RIVN has been the topic of several recent research reports. UBS Group upgraded Rivian Automotive from a "sell" rating to a "neutral" rating and set a $9.00 price objective on the stock in a research report on Tuesday, April 16th. Jefferies Financial Group began coverage on shares of Rivian Automotive in a research note on Thursday, March 7th. They set a "buy" rating and a $16.00 price target on the stock. Bank of America cut their price objective on shares of Rivian Automotive from $40.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, February 22nd. DA Davidson decreased their target price on shares of Rivian Automotive from $19.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday, February 22nd. Finally, Barclays lowered their price target on shares of Rivian Automotive from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Friday, April 19th. One 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 155,749 shares in the company, valued at approximately $2,523,133.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The stock was 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 directly owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders have sold a total of 54,306 shares of company stock valued at $717,274 over the last ninety days. Company insiders own 2.30% of the company's stock.

Rivian Automotive Trading Down 0.5 %

Shares of RIVN traded down $0.05 during trading hours on Thursday, reaching $10.22. 31,318,896 shares of the company traded hands, compared to its average volume of 42,668,336. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $28.06. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48. The company's fifty day moving average price is $10.33 and its two-hundred day moving average price is $14.97. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of -1.78 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.28 billion. Equities research analysts predict that Rivian Automotive, Inc. will post -4.77 earnings per share for the current fiscal year.

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.