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

Key Points

• Rivian Automotive has received a consensus rating of "Hold" from 25 analysts, with four selling, 16 holding, and five buying the stock.
• Insiders of Rivian Automotive have sold shares, including CFO Claire Mcdonough and CEO Robert J. Scaringe, indicating potential concerns about the company's stock performance.
• Rivian's shares are currently priced at $13.65, with an average target price of $13.85, following a recent quarterly earnings report that missed expectations on EPS but exceeded revenue forecasts.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) has earned an average recommendation of "Hold" from the twenty-five brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $13.8545.

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Rivian Automotive from $12.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, September 29th. JPMorgan Chase & Co. decreased their target price on shares of Rivian Automotive from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Rivian Automotive in a research note on Saturday, September 27th. Mizuho boosted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Finally, Wedbush decreased their price objective on Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 7,247 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the sale, the chief financial officer owned 789,445 shares of the company's stock, valued at $9,694,384.60. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 17,450 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $14.00, for a total transaction of $244,300.00. Following the completion of the transaction, the chief executive officer owned 1,316,205 shares of the company's stock, valued at $18,426,870. This represents a 1.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 42,147 shares of company stock valued at $577,593. Company insiders own 2.16% of the company's stock.

Institutional Trading of Rivian Automotive

A number of institutional investors have recently made changes to their positions in RIVN. Norges Bank acquired a new position in shares of Rivian Automotive during the second quarter valued at approximately $105,629,000. Vanguard Group Inc. boosted its stake in Rivian Automotive by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 77,092,693 shares of the electric vehicle automaker's stock valued at $959,804,000 after purchasing an additional 5,610,688 shares in the last quarter. Nuveen LLC bought a new position in Rivian Automotive during the 1st quarter valued at $33,582,000. AQR Capital Management LLC increased its position in shares of Rivian Automotive by 496.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker's stock valued at $31,490,000 after purchasing an additional 1,918,852 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Rivian Automotive by 1,353.6% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker's stock worth $28,281,000 after buying an additional 1,916,686 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Stock Up 0.9%

Shares of Rivian Automotive stock opened at $13.65 on Monday. The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of -4.23 and a beta of 1.82. Rivian Automotive has a twelve month low of $9.50 and a twelve month high of $17.15. The company has a current ratio of 3.44, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. The business's 50 day simple moving average is $13.48 and its 200-day simple moving average is $13.40.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.32). Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company earned ($1.46) earnings per share. Rivian Automotive's quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Rivian Automotive will post -3.2 earnings per share for the current year.

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.

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