Rivian Automotive (NASDAQ:RIVN) Shares Down 3.8% - What's Next?

Key Points

• Rivian shares fell 3.8% on Friday, trading as low as $15.68 and ending near $15.84, below the prior close of $16.46.
• The company is heading into its June-quarter earnings report on July 30, with analysts split on whether Rivian can deliver an upside surprise after a volatile year.
• Recent headlines are mixed: Rivian is seeking a refund of tariffs paid under Trump-era import taxes, which could boost cash flow, but its joint venture with Volkswagen is facing some headline risk after insider-trading charges against Volkswagen engineers.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price was down 3.8% on Friday . The stock traded as low as $15.68 and last traded at $15.84. Approximately 27,336,352 shares traded hands during trading, a decline of 14% from the average daily volume of 31,762,771 shares. The stock had previously closed at $16.46.

Trending Headlines about Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian filed a lawsuit seeking a full refund of tariffs it paid under Trump-era import taxes, which could return tens of millions of dollars to the company if successful and provide a direct boost to cash flow. Rivian sues the US government for ‘full refund' of Trump tariffs
• Positive Sentiment: Investor attention is also focusing on Rivian’s improving relative performance versus peers, with the stock benefiting from a broader rotation away from Tesla and toward EV names like Rivian. Tesla Sinks 18% in a Month as Lucid Climbs 21%, Rivian Gains 9%: SpaceX Anxiety or Cracks Under the Hood?
• Neutral Sentiment: Rivian remains in focus ahead of its June-quarter earnings report on July 30, with analysts debating whether the company can deliver a better-than-expected result after a volatile year-to-date performance. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Rivian is also being viewed as having a relatively weak setup for an earnings beat, which adds uncertainty but does not by itself confirm a major near-term catalyst. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week's Release
• Negative Sentiment: News that Volkswagen engineers were charged with insider trading tied to the Rivian joint venture may create some headline risk around the partnership, even though the allegations are aimed at individuals rather than Rivian itself. Volkswagen engineers charged with insider trading tied to Rivian joint venture

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RIVN. DA Davidson increased their price target on Rivian Automotive from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. BNP Paribas Exane lifted their price objective on shares of Rivian Automotive from $22.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $23.00 price objective on shares of Rivian Automotive in a report on Wednesday, June 10th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Rivian Automotive in a research report on Monday, June 15th. Finally, Benchmark reissued a "buy" rating and set a $25.00 target price on shares of Rivian Automotive in a research note on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $18.86.

Rivian Automotive Trading Down 3.8%

The firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of -5.42 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. The firm's 50 day moving average is $16.28 and its 200 day moving average is $16.01.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.05. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.48) earnings per share. Equities analysts forecast that Rivian Automotive, Inc. will post -3.06 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Karen Boone sold 20,000 shares of Rivian Automotive stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the director directly owned 110,000 shares in the company, valued at $2,200,000. The trade was a 15.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of the business's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.00, for a total value of $128,368.00. Following the sale, the chief financial officer directly owned 887,007 shares in the company, valued at $14,192,112. This trade represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 68,385 shares of company stock worth $1,125,094 in the last three months. 1.48% of the stock is currently owned by insiders.

Institutional Trading of Rivian Automotive

A number of hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its position in shares of Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. Core Wealth Advisors LLC purchased a new stake in shares of Rivian Automotive in the 4th quarter valued at approximately $27,000. SOA Wealth Advisors LLC. boosted its stake in Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker's stock worth $31,000 after purchasing an additional 1,395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Rivian Automotive in the 3rd quarter worth approximately $31,000. Finally, Zions Bancorporation National Association UT purchased a new position in Rivian Automotive during the 4th quarter worth approximately $33,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

About Rivian Automotive

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.