Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Recommendation of "Hold" by Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) have earned an average recommendation of "Hold" from the twenty-six research firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $13.99.

A number of research firms recently weighed in on RIVN. Guggenheim restated a "buy" rating and issued a $16.00 target price on shares of Rivian Automotive in a research report on Tuesday. Wells Fargo & Company cut their price objective on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday. Needham & Company LLC decreased their target price on shares of Rivian Automotive from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday. Truist Financial upped their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Finally, Piper Sandler downgraded Rivian Automotive from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $19.00 to $13.00 in a report on Thursday, March 20th.

Rivian Automotive Price Performance

Shares of NASDAQ:RIVN opened at $13.68 on Friday. The company's fifty day moving average price is $11.92 and its 200-day moving average price is $12.31. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of -2.90 and a beta of 1.86. Rivian Automotive has a one year low of $9.50 and a one year high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.43 billion. On average, equities research analysts anticipate that Rivian Automotive will post -3.2 earnings per share for the current fiscal year.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 35,713 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $11.46, for a total value of $409,270.98. Following the completion of the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,775,506.06. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock worth $2,154,905 in the last quarter. 2.51% of the stock is owned by company insiders.

Institutional Trading of Rivian Automotive

Institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in shares of Rivian Automotive by 7.4% during the 1st quarter. Larson Financial Group LLC now owns 10,504 shares of the electric vehicle automaker's stock valued at $131,000 after purchasing an additional 722 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Rivian Automotive by 2.4% in the first quarter. Brown Advisory Inc. now owns 32,526 shares of the electric vehicle automaker's stock worth $405,000 after buying an additional 772 shares during the last quarter. First National Trust Co grew its position in Rivian Automotive by 5.3% during the first quarter. First National Trust Co now owns 16,000 shares of the electric vehicle automaker's stock valued at $199,000 after buying an additional 800 shares during the period. Dimension Capital Management LLC increased its holdings in Rivian Automotive by 5.5% during the fourth quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker's stock valued at $208,000 after buying an additional 819 shares during the last quarter. Finally, Tradition Wealth Management LLC raised its position in Rivian Automotive by 7.2% in the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock worth $168,000 after acquiring an additional 849 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.

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