Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $14.38 Average PT from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-six analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.38.

RIVN has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Rivian Automotive from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Mizuho boosted their price objective on shares of Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. The Goldman Sachs Group decreased their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $15.00 target price on shares of Rivian Automotive in a research report on Wednesday, May 7th.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 17,185 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.39, for a total value of $264,477.15. Following the completion of the transaction, the chief financial officer owned 824,875 shares of the company's stock, valued at $12,694,826.25. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 107,144 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $15.25, for a total value of $1,633,946.00. Following the completion of the transaction, the chief executive officer directly owned 1,483,111 shares of the company's stock, valued at $22,617,442.75. This represents a 6.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,694 shares of company stock worth $3,144,612. 2.16% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in RIVN. Capital International Investors bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $144,030,000. Norges Bank bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $123,308,000. Vanguard Group Inc. boosted its holdings in Rivian Automotive by 7.8% in the first quarter. Vanguard Group Inc. now owns 77,092,693 shares of the electric vehicle automaker's stock valued at $959,804,000 after acquiring an additional 5,610,688 shares during the last quarter. Northern Trust Corp boosted its holdings in Rivian Automotive by 68.5% in the fourth quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock valued at $96,275,000 after acquiring an additional 2,941,928 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Rivian Automotive in the first quarter valued at approximately $33,582,000. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Trading Up 1.1%

Shares of RIVN stock traded up $0.16 on Wednesday, reaching $13.98. 35,799,605 shares of the stock were exchanged, compared to its average volume of 32,223,738. The stock has a market cap of $15.80 billion, a P/E ratio of -3.76 and a beta of 1.81. The company has a quick ratio of 2.80, a current ratio of 3.73 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $14.04 and a two-hundred day moving average of $13.07. Rivian Automotive has a 1-year low of $9.50 and a 1-year high of $17.15.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.80) by $0.23. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $981.52 million. Rivian Automotive had a negative net margin of 76.83% and a negative return on equity of 60.64%. The business's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.48) earnings per share. On average, research analysts anticipate that Rivian Automotive will post -3.2 EPS for the current 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.