Rivian Automotive's (RIVN) "Neutral" Rating Reiterated at Cantor Fitzgerald

Rivian Automotive (NASDAQ:RIVN - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They presently have a $15.00 target price on the electric vehicle automaker's stock. Cantor Fitzgerald's target price points to a potential upside of 7.14% from the company's previous close.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. decreased their target price on Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. Mizuho dropped their price target on shares of Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Sanford C. Bernstein initiated coverage on Rivian Automotive in a report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price target on the stock. Wells Fargo & Company cut their target price on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, TD Cowen began coverage on shares of Rivian Automotive in a research report on Friday, March 7th. They issued a "hold" rating and a $12.70 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive presently has a consensus rating of "Hold" and a consensus target price of $13.99.

Rivian Automotive Trading Up 2.3 %

NASDAQ:RIVN traded up $0.32 during trading hours on Wednesday, reaching $14.00. 9,579,689 shares of the company were exchanged, compared to its average volume of 32,604,281. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of -2.97 and a beta of 1.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock has a 50 day simple moving average of $11.92 and a 200 day simple moving average of $12.31. Rivian Automotive has a 52-week low of $9.50 and a 52-week high of $18.85.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.06. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. As a group, analysts predict that Rivian Automotive will post -3.2 EPS for the current year.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $11.82, for a total value of $844,290.78. Following the completion of the transaction, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $10,082,590.02. The trade was a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,427 shares of company stock valued at $2,154,905. Company insiders own 2.51% of the company's stock.

Hedge Funds Weigh In On Rivian Automotive

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors purchased a new position in Rivian Automotive in the 4th quarter worth approximately $144,030,000. Norges Bank purchased a new position in shares of Rivian Automotive in the fourth quarter worth $123,308,000. Northern Trust Corp boosted its position in shares of Rivian Automotive by 68.5% during the fourth quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock valued at $96,275,000 after buying an additional 2,941,928 shares during the last quarter. Twinbeech Capital LP bought a new stake in Rivian Automotive in the 4th quarter worth about $29,944,000. Finally, Groupama Asset Managment bought a new position in Rivian Automotive during the 4th quarter valued at about $26,600,000. Institutional investors own 66.25% of the company's stock.

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.