Rivian Automotive (NASDAQ:RIVN) Stock Price Down 4.7% - Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price fell 4.7% on Tuesday . The stock traded as low as $13.01 and last traded at $13.10. 13,692,816 shares were traded during trading, a decline of 60% from the average session volume of 34,090,463 shares. The stock had previously closed at $13.74.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RIVN. TD Cowen assumed coverage on shares of Rivian Automotive in a research report on Friday, March 7th. They issued a "hold" rating and a $12.70 target price on the stock. Mizuho upped their target price on Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Guggenheim reaffirmed a "buy" rating and issued a $16.00 target price on shares of Rivian Automotive in a report on Tuesday, May 6th. Needham & Company LLC reduced their price objective on Rivian Automotive from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group lifted their target price on Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Rivian Automotive has an average rating of "Hold" and a consensus target price of $14.38.

Rivian Automotive Stock Performance

The stock has a market cap of $15.21 billion, a PE ratio of -3.61 and a beta of 1.86. The stock has a fifty day simple moving average of $14.14 and a two-hundred day simple moving average of $13.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.80 and a current ratio of 3.73.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.23. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $981.52 million. During the same period in the prior year, the business posted ($1.48) EPS. The business's revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 17,185 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.39, for a total transaction of $264,477.15. Following the completion of the transaction, the chief financial officer directly owned 824,875 shares of the company's stock, valued at approximately $12,694,826.25. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 107,144 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $15.25, for a total value of $1,633,946.00. Following the completion of the sale, the chief executive officer directly owned 1,483,111 shares in the company, valued at approximately $22,617,442.75. This trade represents a 6.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,836 shares of company stock worth $4,357,459 in the last three months. 2.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

Hedge funds have recently added to or reduced their stakes in the business. PFS Partners LLC increased its stake in 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 buying an additional 1,882 shares during the period. Banque Transatlantique SA boosted its stake in 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 purchasing an additional 2,243 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Rivian Automotive during the 4th quarter valued at $34,000. WPG Advisers LLC bought a new stake in shares of Rivian Automotive in the 1st quarter worth $34,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Rivian Automotive in the first quarter valued at $37,000. 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.

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