Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price traded up 1.9% during mid-day trading on Friday . The stock traded as high as $12.99 and last traded at $12.75. 6,812,013 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 37,364,949 shares. The stock had previously closed at $12.51.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on RIVN. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 price objective for the company. JPMorgan Chase & Co. dropped their price target on shares of Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating for the company in a research note on Tuesday, October 22nd. Canaccord Genuity Group reduced their price objective on shares of Rivian Automotive from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Monday, October 7th. Barclays raised their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 22nd. Finally, Baird R W cut Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.13.
View Our Latest Research Report on RIVN
Rivian Automotive Stock Performance
The company has a fifty day moving average price of $13.44 and a 200 day moving average price of $12.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock has a market cap of $12.65 billion, a P/E ratio of -2.21 and a beta of 2.04.
Insider Buying and Selling at Rivian Automotive
In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the transaction, the chief executive officer now owns 863,361 shares of the company's stock, valued at $13,960,547.37. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company's stock, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 363,142 shares of company stock worth $4,958,860. 2.51% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Rivian Automotive
Hedge funds have recently bought and sold shares of the company. Aspen Investment Management Inc bought a new position in shares of Rivian Automotive during the fourth quarter valued at about $138,000. Prakash Investment Advisors LLC purchased a new stake in Rivian Automotive in the 4th quarter valued at about $222,000. Bear Mountain Capital Inc. lifted its position in shares of Rivian Automotive by 208.0% during the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after buying an additional 1,932 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Rivian Automotive by 21.6% during the 4th quarter. Handelsbanken Fonder AB now owns 199,000 shares of the electric vehicle automaker's stock worth $2,647,000 after buying an additional 35,300 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in shares of Rivian Automotive by 6.7% in the fourth quarter. Ieq Capital LLC now owns 101,585 shares of the electric vehicle automaker's stock valued at $1,351,000 after acquiring an additional 6,344 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.
Rivian Automotive Company Profile
(
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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