Rivian Automotive (NASDAQ:RIVN) Stock Price Up 1.6% - Should You Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price rose 1.6% on Monday . The stock traded as high as $13.14 and last traded at $12.83. Approximately 9,774,551 shares changed hands during trading, a decline of 73% from the average daily volume of 36,423,773 shares. The stock had previously closed at $12.62.

Analyst Ratings Changes

A number of brokerages recently commented on RIVN. JPMorgan Chase & Co. lowered their price objective on shares of Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. Piper Sandler lowered Rivian Automotive from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $19.00 to $13.00 in a research report on Thursday, March 20th. Needham & Company LLC boosted their price target on Rivian Automotive from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, UBS Group cut their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and an average target price of $14.08.

Rivian Automotive Stock Performance

The stock has a 50-day moving average of $11.69 and a 200 day moving average of $12.16. The firm has a market capitalization of $14.98 billion, a P/E ratio of -2.79 and a beta of 1.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. On average, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at $10,082,590.02. This represents a 7.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,427 shares of company stock valued at $2,154,905. 2.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tandem Financial LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $25,000. PFS Partners LLC grew its stake in Rivian Automotive by 1,882.0% in the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock valued at $25,000 after acquiring an additional 1,882 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of Rivian Automotive in the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive during the third quarter worth about $28,000. Finally, Orion Capital Management LLC bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $34,000. 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.