Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert Scaringe sold 17,450 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $15.00, for a total transaction of $261,750.00. Following the completion of the transaction, the chief executive officer owned 1,027,281 shares in the company, valued at approximately $15,409,215. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Rivian Automotive Trading Up 1.8%
Shares of NASDAQ:RIVN traded up $0.27 during trading on Thursday, reaching $15.19. The stock had a trading volume of 27,648,360 shares, compared to its average volume of 30,787,961. The stock has a market cap of $18.85 billion, a P/E ratio of -4.95 and a beta of 1.75. The company has a quick ratio of 1.89, a current ratio of 2.33 and a debt-to-equity ratio of 0.97. Rivian Automotive, Inc. has a fifty-two week low of $10.36 and a fifty-two week high of $22.69. The business has a fifty day moving average price of $16.73 and a 200-day moving average price of $15.63.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.02. Rivian Automotive had a negative return on equity of 65.05% and a negative net margin of 67.68%.The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted ($0.70) EPS. Rivian Automotive's revenue was down 25.8% on a year-over-year basis. As a group, analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research firms have recently commented on RIVN. UBS Group raised shares of Rivian Automotive from a "sell" rating to a "neutral" rating and upped their price objective for the company from $15.00 to $16.00 in a research note on Friday, February 13th. Cantor Fitzgerald restated a "neutral" rating on shares of Rivian Automotive in a report on Monday, February 9th. Stifel Nicolaus upped their price target on shares of Rivian Automotive from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Morgan Stanley reiterated an "underweight" rating and issued a $12.00 price target on shares of Rivian Automotive in a report on Monday, December 8th. Finally, TD Cowen upped their price objective on Rivian Automotive from $13.00 to $17.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, Rivian Automotive has an average rating of "Hold" and an average target price of $17.86.
Read Our Latest Analysis on Rivian Automotive
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Rivian Automotive by 28.0% in the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock worth $235,000 after buying an additional 3,864 shares during the period. AQR Capital Management LLC lifted its position in Rivian Automotive by 1.5% during the 1st quarter. AQR Capital Management LLC now owns 386,384 shares of the electric vehicle automaker's stock worth $4,733,000 after acquiring an additional 5,590 shares in the last quarter. Empowered Funds LLC boosted its holdings in Rivian Automotive by 10.1% in the 1st quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker's stock worth $679,000 after acquiring an additional 4,998 shares during the period. Focus Partners Wealth grew its position in Rivian Automotive by 29.0% in the first quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker's stock valued at $803,000 after acquiring an additional 14,497 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Rivian Automotive by 57.1% in 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 in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.
Rivian Automotive News Roundup
Here are the key news stories impacting Rivian Automotive this week:
Rivian Automotive Company Profile
(
Get Free Report)
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.
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