Rivian Automotive (NASDAQ:RIVN) Shares Down 1.2% - Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price was down 1.2% during mid-day trading on Thursday . The stock traded as low as $13.90 and last traded at $14.03. Approximately 5,350,489 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 36,119,804 shares. The stock had previously closed at $14.20.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RIVN shares. TD Cowen started coverage on shares of Rivian Automotive in a report on Friday, March 7th. They issued a "hold" rating and a $12.70 target price for the company. Cowen started coverage on shares of Rivian Automotive in a report on Thursday, March 6th. They issued a "hold" rating for the company. UBS Group upped their price target 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. Jefferies Financial Group reiterated a "hold" rating and issued a $16.00 price target on shares of Rivian Automotive in a research report on Wednesday, May 14th. Finally, Benchmark reiterated a "buy" rating and issued a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Rivian Automotive presently has a consensus rating of "Hold" and a consensus price target of $14.33.

Rivian Automotive Stock Performance

The stock has a market capitalization of $15.17 billion, a price-to-earnings ratio of -2.84 and a beta of 1.86. The stock's 50 day moving average is $13.67 and its 200 day moving average is $13.11. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.23. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $981.52 million. During the same period last year, the company earned ($1.48) EPS. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 9,937 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $15.00, for a total value of $149,055.00. Following the transaction, the chief financial officer now owns 851,637 shares in the company, valued at approximately $12,774,555. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the transaction, the chief executive officer now owns 853,011 shares in the company, valued at $9,596,373.75. The trade was a 7.73% decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RIVN. PFS Partners LLC increased its position in shares of Rivian Automotive by 1,882.0% during the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock worth $25,000 after acquiring an additional 1,882 shares during the last quarter. Banque Transatlantique SA increased its stake in shares of Rivian Automotive by 13,194.1% in the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock worth $26,000 after buying an additional 2,243 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of Rivian Automotive in the fourth quarter worth $27,000. Orion Capital Management LLC bought a new stake in shares of Rivian Automotive in the fourth quarter worth $34,000. Finally, WPG Advisers LLC bought a new stake in shares of Rivian Automotive in the first quarter worth $34,000. Hedge funds and other 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.