Rivian Automotive (NASDAQ:RIVN) Stock Price Down 1.1% - Time to Sell?

Key Points

• Rivian Automotive's stock fell by 1.1% to $13.50, with significant trading volume decreasing by 20% from its average.
• Analysts have mixed opinions, with pricing targets ranging from **$12.00** to **$21.00**, resulting in an average hold rating and a consensus target price of **$13.90**.
• Insider selling activity, including CEO Robert Scaringe's sale of **17,450 shares**, raises questions about confidence in the stock as corporate insiders own only **2.16%** of the company.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price was down 1.1% during trading on Monday . The company traded as low as $13.46 and last traded at $13.50. Approximately 29,219,996 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 36,350,910 shares. The stock had previously closed at $13.65.

Wall Street Analyst Weigh In

Several analysts have commented on the company. UBS Group upped their price objective on Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday. Stifel Nicolaus dropped their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Mizuho increased their price target on Rivian Automotive from $12.00 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Wedbush lowered their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $21.00 price objective on shares of Rivian Automotive in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Rivian Automotive has an average rating of "Hold" and a consensus target price of $13.90.

Rivian Automotive Stock Down 1.1%

The stock has a market cap of $16.38 billion, a price-to-earnings ratio of -4.18 and a beta of 1.82. The company has a current ratio of 3.44, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. The firm's 50 day moving average is $13.48 and its two-hundred day moving average is $13.42.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.32). The firm had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.27 billion. Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.46) earnings per share. On average, sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 17,450 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $14.00, for a total transaction of $244,300.00. Following the transaction, the chief executive officer owned 1,316,205 shares of the company's stock, valued at $18,426,870. This represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 7,247 shares of Rivian Automotive stock in a transaction on Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the sale, the chief financial officer directly owned 789,445 shares of the company's stock, valued at approximately $9,694,384.60. This represents a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,147 shares of company stock worth $577,593. Corporate insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RIVN. PFS Partners LLC grew its holdings 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 purchasing an additional 1,882 shares during the period. Assetmark Inc. boosted its holdings in shares of Rivian Automotive by 315.6% in the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker's stock valued at $25,000 after purchasing an additional 1,357 shares during the last quarter. Banque Transatlantique SA grew its stake in shares of Rivian Automotive by 13,194.1% during the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock valued at $26,000 after buying an additional 2,243 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Rivian Automotive by 113.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock worth $26,000 after buying an additional 1,000 shares during the last quarter. Finally, Fairman Group LLC purchased a new position in shares of Rivian Automotive in the 2nd quarter worth $31,000. Institutional investors and hedge funds own 66.25% of the company's stock.

About Rivian Automotive

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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