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

Key Points

• Rivian Automotive has a consensus analyst rating of “Hold” from 27 firms, with 12 buy ratings, 9 hold ratings, and 6 sell ratings. The average 1-year price target is about $18.67.
• The company recently reported stronger-than-expected Q2 deliveries and raised its full-year delivery outlook to 70,000 vehicles. It also pre-announced second-quarter revenue of $1.55 billion to $1.65 billion, above Wall Street estimates.
• Despite improving operating momentum, Rivian announced an underwritten public offering of 75 million shares plus an additional 11.25 million-share option, raising dilution and financing concerns. The stock was also pressured by recent insider sales, including trades by the CFO and CEO.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) has earned an average recommendation of "Hold" from the twenty-seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $18.6667.

Several equities research analysts recently weighed in on the stock. BNP Paribas Exane reaffirmed an "outperform" rating and set a $22.00 target price (down from $23.00) on shares of Rivian Automotive in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Rivian Automotive from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $22.00 price objective on shares of Rivian Automotive in a research report on Monday, April 6th. Tigress Financial reiterated a "buy" rating and issued a $25.00 price objective on shares of Rivian Automotive in a research note on Friday, April 10th. Finally, TD Cowen reiterated a "buy" rating and issued a $20.00 target price on shares of Rivian Automotive in a report on Wednesday, June 3rd.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,023 shares of the company's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.00, for a total value of $128,368.00. Following the completion of the transaction, the chief financial officer owned 887,007 shares in the company, valued at $14,192,112. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the sale, the chief executive officer owned 922,286 shares in the company, valued at $13,834,290. This trade represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 80,076 shares of company stock valued at $1,256,286 over the last ninety days. 1.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RIVN. Danske Bank A S raised its holdings in shares of Rivian Automotive by 36.8% in the fourth quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker's stock valued at $12,102,000 after buying an additional 165,300 shares during the last quarter. Trek Financial LLC acquired a new position in Rivian Automotive in the 4th quarter valued at about $6,115,000. Swedbank AB raised its stake in Rivian Automotive by 8.6% during the 4th quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker's stock valued at $18,553,000 after acquiring an additional 74,322 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Rivian Automotive by 34.9% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 348,800 shares of the electric vehicle automaker's stock worth $5,249,000 after acquiring an additional 90,200 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Rivian Automotive during the 4th quarter worth approximately $4,895,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

Rivian Automotive News Roundup

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian reported stronger-than-expected second-quarter deliveries and raised its full-year delivery outlook to 70,000 vehicles, signaling improving demand and execution. A Closer Look at Rivian and Lucid's Q2 Delivery Results
• Positive Sentiment: The company also pre-announced second-quarter revenue of $1.55 billion to $1.65 billion, above Wall Street estimates, which suggests near-term revenue momentum is better than expected. Rivian forecasts quarterly revenue above estimates
• Positive Sentiment: JPMorgan raised its price target on Rivian after the delivery beat, reflecting improved analyst sentiment even though the firm kept a cautious rating. Rivian stock jumps as JPMorgan raises target after strong Q2 deliveries
• Neutral Sentiment: Rivian’s recent rally had also been helped by optimism around its R2 vehicle platform and broader EV-sector strength before the financing announcement reversed sentiment. Rivian stock has flagged an inverted H&S pattern: will the rally continue?
• Negative Sentiment: Rivian announced an underwritten public offering of 75 million shares, with an additional 11.25 million-share option for underwriters, raising dilution concerns and pressuring the stock. Rivian Automotive, Inc. Announces Commencement of Underwritten Public Offering of Common Stock
• Negative Sentiment: Investors are also worried the proceeds may be needed to strengthen Rivian’s balance sheet and help repay a government loan, reinforcing concerns about cash burn and funding needs. Rivian Shares Drop After News Of 75 Million Share Public Offering

Rivian Automotive Stock Down 18.1%

Shares of RIVN opened at $16.49 on Wednesday. The company's 50-day simple moving average is $15.71 and its 200-day simple moving average is $16.29. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. Rivian Automotive has a 1 year low of $11.57 and a 1 year high of $22.69. The stock has a market capitalization of $20.46 billion, a PE ratio of -5.65 and a beta of 1.60.

Rivian Automotive Company Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.