Rivian Automotive (NASDAQ:RIVN) Stock Price Down 2.9% - Time to Sell?

Key Points

• Shares fell 2.9% intraday to $14.77 on lighter volume, while the consensus analyst rating is "Hold" with an average price target of $18.05 (11 Buys, 8 Holds, 7 Sells).
• Rivian beat Q4 estimates with EPS of -$0.54 (vs. -$0.68) and revenue of $1.29B (vs. $1.27B), but revenue is down 25.8% year‑over‑year and the company remains unprofitable with steep negative margins.
• Insiders sold stock recently—CEO Robert Scaringe and CFO Claire Mcdonough each sold shares on Feb. 18—and insiders disposed of 131,833 shares over the last quarter, while institutional investors own about 66.25% of the company.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price fell 2.9% during mid-day trading on Friday . The company traded as low as $14.70 and last traded at $14.77. 22,127,966 shares traded hands during trading, a decline of 29% from the average session volume of 30,986,670 shares. The stock had previously closed at $15.21.

Analyst Ratings Changes

Several research firms have commented on RIVN. Piper Sandler cut their price target on Rivian Automotive from $20.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, February 13th. Robert W. Baird upgraded shares of Rivian Automotive from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $14.00 to $25.00 in a research report on Thursday, December 18th. TD Cowen raised shares of Rivian Automotive from a "hold" rating to a "buy" rating and lifted their target price for the company from $17.00 to $20.00 in a report on Tuesday, March 10th. Leerink Partners reiterated an "outperform" rating on shares of Rivian Automotive in a research report on Thursday, March 12th. Finally, Wall Street Zen cut shares of Rivian Automotive from a "hold" rating to a "strong sell" rating in a research note on Sunday, February 15th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $18.05.

Rivian Automotive Trading Down 2.9%

The company has a 50 day simple moving average of $15.50 and a 200 day simple moving average of $15.88. The company has a current ratio of 2.33, a quick ratio of 1.89 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $18.33 billion, a PE ratio of -4.81 and a beta of 1.75.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.14. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative return on equity of 65.05% and a negative net margin of 67.68%.The company's revenue was down 25.8% on a year-over-year basis. During the same period last year, the business posted ($0.70) EPS. Analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Robert J. Scaringe sold 34,900 shares of Rivian Automotive stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.80, for a total value of $586,320.00. Following the transaction, the chief executive officer directly owned 1,044,731 shares in the company, valued at $17,551,480.80. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Claire Mcdonough sold 27,133 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.80, for a total transaction of $455,834.40. Following the completion of the transaction, the chief financial officer directly owned 680,836 shares in the company, valued at $11,438,044.80. This represents a 3.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 131,833 shares of company stock worth $2,196,995. 2.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Core Wealth Advisors LLC purchased a new position in Rivian Automotive during the fourth quarter worth about $27,000. SOA Wealth Advisors LLC. boosted its holdings 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 valued at $31,000 after purchasing an additional 1,395 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Rivian Automotive in the 4th quarter valued at approximately $33,000. Glass Jacobson Investment Advisors llc increased its position in Rivian Automotive by 96.3% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker's stock worth $34,000 after purchasing an additional 852 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in 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 purchasing an additional 1,000 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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