Rivian Automotive (NASDAQ:RIVN) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho analysts have increased the price target for Rivian Automotive's stock from $12.00 to $14.00, though they maintain a "neutral" rating, indicating a potential downside of 7.28% from the stock's current price.
• Recent earnings results revealed that Rivian Automotive reported a loss of ($0.97) EPS, missing estimates, but revenue topped expectations at $1.30 billion, marking a 12.5% increase year-over-year.
• Institutional investors currently hold 66.25% of Rivian's stock, with several firms making recent adjustments to their positions in the company.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) had its price target upped by analysts at Mizuho from $12.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the electric vehicle automaker's stock. Mizuho's target price suggests a potential downside of 7.28% from the stock's current price.

A number of other brokerages also recently issued reports on RIVN. Wedbush reduced 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. Morgan Stanley decreased their price objective on Rivian Automotive from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Stifel Nicolaus reduced their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Guggenheim cut shares of Rivian Automotive from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Finally, Wall Street Zen cut Rivian Automotive from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Rivian Automotive presently has a consensus rating of "Hold" and an average price target of $13.72.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $15.10 on Tuesday. The stock has a market capitalization of $18.32 billion, a P/E ratio of -4.72 and a beta of 1.81. Rivian Automotive has a one year low of $9.50 and a one year high of $17.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.44 and a quick ratio of 2.72. The business's 50 day simple moving average is $13.22 and its two-hundred day simple moving average is $13.15.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.32). Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned ($1.46) earnings per share. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts forecast that Rivian Automotive will post -3.2 EPS for the current year.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $12.28, for a total transaction 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 $9,694,384.60. This trade represents a 0.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 17,450 shares of Rivian Automotive stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $14.00, for a total transaction of $244,300.00. Following the completion of the sale, the chief executive officer owned 1,316,205 shares in the company, valued at approximately $18,426,870. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,147 shares of company stock valued at $577,593 in the last quarter. 2.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC increased its holdings in shares of Rivian Automotive by 7.4% in the 1st quarter. Larson Financial Group LLC now owns 10,504 shares of the electric vehicle automaker's stock valued at $131,000 after acquiring an additional 722 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Rivian Automotive by 2.4% during the 1st quarter. Brown Advisory Inc. now owns 32,526 shares of the electric vehicle automaker's stock valued at $405,000 after buying an additional 772 shares during the last quarter. First National Trust Co lifted its holdings in Rivian Automotive by 5.3% in the first quarter. First National Trust Co now owns 16,000 shares of the electric vehicle automaker's stock worth $199,000 after acquiring an additional 800 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Rivian Automotive by 1.5% in the first quarter. Assenagon Asset Management S.A. now owns 60,252 shares of the electric vehicle automaker's stock valued at $750,000 after acquiring an additional 867 shares during the period. Finally, TD Asset Management Inc grew its holdings in shares of Rivian Automotive by 1.2% during the second quarter. TD Asset Management Inc now owns 75,841 shares of the electric vehicle automaker's stock valued at $1,042,000 after purchasing an additional 870 shares during the last quarter. 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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