Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Consensus Rating of "Hold" from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) has been assigned an average rating of "Hold" from the twenty-seven analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $14.33.

Several research analysts recently commented on RIVN shares. Piper Sandler raised their price target on shares of Rivian Automotive from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. UBS Group raised their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Benchmark reissued a "buy" rating and issued a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Wells Fargo & Company decreased their target price on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $15.00 price target on shares of Rivian Automotive in a report on Wednesday, May 7th.

Rivian Automotive Trading Down 2.5%

Shares of NASDAQ:RIVN traded down $0.36 during trading hours on Tuesday, hitting $14.01. 26,142,501 shares of the company's stock traded hands, compared to its average volume of 36,172,972. The firm has a market capitalization of $15.84 billion, a P/E ratio of -2.97 and a beta of 1.86. The business has a fifty day moving average price of $13.33 and a 200-day moving average price of $12.93. Rivian Automotive has a 1 year low of $9.50 and a 1 year high of $18.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.23. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $981.52 million. During the same quarter in the prior year, the company posted ($1.48) EPS. Rivian Automotive's quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts expect that Rivian Automotive will post -3.2 earnings per share for the current year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 17,185 shares of Rivian Automotive stock in a transaction on Friday, May 16th. The shares were 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 now owns 824,875 shares of the company's stock, valued at approximately $12,694,826.25. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,596,373.75. The trade was a 7.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 384,265 shares of company stock worth $5,201,750 in the last three months. Company insiders own 2.16% of the company's stock.

Hedge Funds Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Modern Wealth Management LLC purchased a new stake in shares of Rivian Automotive during the first quarter worth about $135,000. Strs Ohio acquired a new stake in Rivian Automotive in the 1st quarter worth about $1,180,000. GK Wealth Management LLC purchased a new stake in Rivian Automotive during the 1st quarter worth approximately $150,000. Geneos Wealth Management Inc. raised its holdings in shares of Rivian Automotive by 57.1% during the first quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker's stock valued at $64,000 after acquiring an additional 1,856 shares during the last quarter. Finally, Belpointe Asset Management LLC lifted its position in shares of Rivian Automotive by 9.0% in the first quarter. Belpointe Asset Management LLC now owns 19,225 shares of the electric vehicle automaker's stock valued at $239,000 after acquiring an additional 1,581 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.