Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shares were down 1.6% during mid-day trading on Wednesday . The company traded as low as $13.53 and last traded at $13.59. Approximately 4,968,693 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 35,924,685 shares. The stock had previously closed at $13.81.
Analyst Ratings Changes
A number of analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus raised their price target on Rivian Automotive from $16.00 to $18.00 and gave the company a "buy" rating in a report on Monday, May 12th. Piper Sandler increased their price objective on Rivian Automotive from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $16.00 price objective on shares of Rivian Automotive in a research note on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Rivian Automotive from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.33.
Read Our Latest Analysis on RIVN
Rivian Automotive Price Performance
The company has a quick ratio of 2.80, a current ratio of 3.73 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $15.38 billion, a PE ratio of -3.66 and a beta of 1.86. The company has a 50-day moving average of $14.09 and a 200 day moving average of $13.17.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.80) by $0.23. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $981.52 million. During the same period last year, the company earned ($1.48) EPS. The company's quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.
Insider Transactions at Rivian Automotive
In other Rivian Automotive news, CFO Claire Mcdonough sold 17,185 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.39, for a total transaction of $264,477.15. Following the transaction, the chief financial officer now owns 824,875 shares of the company's stock, valued at $12,694,826.25. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 107,144 shares of Rivian Automotive stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $15.25, for a total value of $1,633,946.00. Following the completion of the transaction, the chief executive officer now owns 1,483,111 shares in the company, valued at $22,617,442.75. The trade was a 6.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 312,836 shares of company stock valued at $4,357,459. Insiders own 2.16% of the company's stock.
Institutional Trading of Rivian Automotive
A number of hedge funds have recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Rivian Automotive by 28.0% in the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock valued at $235,000 after buying an additional 3,864 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Rivian Automotive by 30.6% in the 4th quarter. Private Advisor Group LLC now owns 64,870 shares of the electric vehicle automaker's stock valued at $863,000 after acquiring an additional 15,213 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Rivian Automotive by 153.7% during the 4th quarter. IFP Advisors Inc now owns 8,007 shares of the electric vehicle automaker's stock valued at $106,000 after acquiring an additional 4,851 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Rivian Automotive by 36.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 148,423 shares of the electric vehicle automaker's stock worth $1,974,000 after purchasing an additional 39,751 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Rivian Automotive by 4.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock worth $354,000 after purchasing an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.
About Rivian Automotive
(
Get Free Report)
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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