Rivian Automotive (NASDAQ:RIVN) Trading Up 0.5% - What's Next?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price shot up 0.5% during mid-day trading on Friday . The company traded as high as $14.05 and last traded at $13.83. 9,430,089 shares were traded during trading, a decline of 74% from the average session volume of 36,477,089 shares. The stock had previously closed at $13.76.

Analyst Ratings Changes

RIVN has been the subject of several recent research reports. Barclays raised their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 22nd. Cowen started coverage on Rivian Automotive in a report on Thursday, March 6th. They issued a "hold" rating for the company. Piper Sandler lowered Rivian Automotive from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $19.00 to $13.00 in a research report on Thursday, March 20th. Sanford C. Bernstein assumed coverage on Rivian Automotive in a research report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price objective for the company. Finally, Guggenheim cut 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 note on Monday, February 24th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.08.

Rivian Automotive Stock Performance

The firm has a 50 day moving average price of $11.78 and a 200-day moving average price of $12.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The company has a market cap of $15.64 billion, a P/E ratio of -2.93 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. On average, research analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,596,373.75. The trade was a 7.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,427 shares of company stock worth $2,154,905. 2.51% of the stock is owned by corporate insiders.

Institutional Trading of Rivian Automotive

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted 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 worth $131,000 after acquiring an additional 722 shares in the last quarter. Brown Advisory Inc. boosted its stake in Rivian Automotive by 2.4% in the first quarter. Brown Advisory Inc. now owns 32,526 shares of the electric vehicle automaker's stock worth $405,000 after purchasing an additional 772 shares in the last quarter. Dimension Capital Management LLC boosted its stake in Rivian Automotive by 5.5% in the fourth quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker's stock worth $208,000 after purchasing an additional 819 shares in the last quarter. Tradition Wealth Management LLC grew its holdings in shares of Rivian Automotive by 7.2% during the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock worth $168,000 after purchasing an additional 849 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of 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 buying an additional 867 shares in the last quarter. 66.25% of the stock is owned by institutional investors.

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.