Rivian Automotive (NASDAQ:RIVN) Trading Down 1.4% - Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price dropped 1.4% during trading on Friday . The stock traded as low as $14.71 and last traded at $14.81. Approximately 5,844,384 shares traded hands during trading, a decline of 84% from the average daily volume of 36,231,158 shares. The stock had previously closed at $15.01.

Wall Street Analyst Weigh In

RIVN has been the subject of several recent analyst reports. Jefferies Financial Group restated a "hold" rating and set a $16.00 target price on shares of Rivian Automotive in a research report on Wednesday, May 14th. Wells Fargo & Company cut their price objective on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. TD Cowen began coverage on Rivian Automotive in a research report on Friday, March 7th. They set a "hold" rating and a $12.70 target price for the company. Mizuho upped their price target on shares of Rivian Automotive from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Guggenheim reiterated a "buy" rating and set a $16.00 price objective on shares of Rivian Automotive in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Rivian Automotive presently has an average rating of "Hold" and a consensus price target of $14.33.

Rivian Automotive Trading Down 3.0%

The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company has a 50-day simple moving average of $13.27 and a 200 day simple moving average of $12.89. The firm has a market cap of $15.94 billion, a PE ratio of -2.99 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.80) by $0.23. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $981.52 million. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned ($1.48) EPS. As a group, sell-side analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 9,937 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total transaction of $149,055.00. Following the completion of the transaction, the chief financial officer now owns 851,637 shares of the company's stock, valued at $12,774,555. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the sale, the chief executive officer now owns 853,011 shares of the company's stock, valued at $9,596,373.75. The trade was a 7.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 384,265 shares of company stock valued at $5,201,750 in the last three months. 2.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

Large investors have recently modified their holdings of the business. Tandem Financial LLC purchased a new stake in Rivian Automotive during the 4th quarter valued at about $25,000. PFS Partners LLC boosted its position in shares of Rivian Automotive by 1,882.0% during the 1st 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 last quarter. Bank of Jackson Hole Trust purchased a new position in Rivian Automotive during the fourth quarter worth about $27,000. Banque Transatlantique SA boosted its holdings in Rivian Automotive by 13,194.1% in the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 2,243 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new stake in shares of Rivian Automotive during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors 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.