Rivian Automotive (NASDAQ:RIVN) Shares Down 1.6% - Time to Sell?

Key Points

• Rivian shares fell about 1.6% to $14.87 on Monday, trading as low as $14.53 with volume roughly 51% above the average session level.
• Wall Street is split but cautious: the consensus rating is "Hold" with an average target of $14.34 (6 Buys, 16 Holds, 5 Sells), while notable analyst moves include Goldman cutting its target to $13 and Tigress raising theirs to $25.
• Insider activity: CEO Robert J. Scaringe sold 52,350 shares at $16.60 (a ~4.03% reduction in his stake); insiders sold 87,250 shares this quarter and now own about 2.16% of the company.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price traded down 1.6% during trading on Monday . The stock traded as low as $14.53 and last traded at $14.87. 58,042,672 shares changed hands during mid-day trading, an increase of 51% from the average session volume of 38,333,215 shares. The stock had previously closed at $15.11.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RIVN shares. The Goldman Sachs Group cut their target price on shares of Rivian Automotive from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 5th. Tigress Financial boosted their price objective on Rivian Automotive from $21.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 target price on shares of Rivian Automotive in a report on Monday, August 25th. Wedbush cut their price target on Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Finally, Mizuho restated an "underperform" rating and set a $10.00 price target (down from $14.00) on shares of Rivian Automotive in a report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.34.

Rivian Automotive Stock Performance

The company has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $13.84. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 52,350 shares of the company's stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total value of $869,010.00. Following the sale, the chief executive officer directly owned 1,246,405 shares in the company, valued at $20,690,323. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 87,250 shares of company stock valued at $1,357,610 over the last quarter. 2.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. increased its position in shares of Rivian Automotive by 315.6% during the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker's stock worth $25,000 after buying an additional 1,357 shares during the period. Banque Transatlantique SA boosted its position in Rivian Automotive by 13,194.1% during the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock valued at $26,000 after acquiring an additional 2,243 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in Rivian Automotive by 113.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock valued at $26,000 after acquiring an additional 1,000 shares during the last quarter. Mather Group LLC. acquired a new stake in Rivian Automotive during the 3rd quarter worth about $30,000. Finally, Fairman Group LLC bought a new position in shares of Rivian Automotive in the 2nd quarter worth about $31,000. Institutional investors and hedge funds 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.

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