Rivian Automotive (NASDAQ:RIVN) Stock Price Up 2.3% - Time to Buy?

Key Points

• Rivian stock rose 2.3% on Wednesday, trading as high as $14.68 before closing at $14.27 on heavy volume, though it remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leaning cautious: several firms have buy ratings and price targets as high as $25, while Bank of America rates the stock underperform; overall consensus is a Hold with an average target of $18.57.
• Fundamentals remain challenged despite a quarterly earnings beat, as Rivian posted a large loss, shrinking revenue year over year, and faces ongoing profitability and execution concerns.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shot up 2.3% on Wednesday . The company traded as high as $14.68 and last traded at $14.27. 29,160,274 shares were traded during trading, a decline of 0% from the average session volume of 29,200,748 shares. The stock had previously closed at $13.95.

Trending Headlines about Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Mind Robotics’ rapid fundraising and higher valuation suggest strong outside interest in Rivian’s robotics and automation efforts.
• Neutral Sentiment: Rivian is also rolling out a new AI assistant for its R1 and R2 vehicles, which could help improve the product experience and reinforce its software capabilities.
• Neutral Sentiment: Analyst coverage remains mixed, with DA Davidson recently setting a $15 price target, while some commentary still highlights Rivian’s broader operational challenges.
• Negative Sentiment: Some recent commentary notes Rivian remains under pressure, with the stock down significantly earlier this year amid ongoing concerns about profitability and execution.

Wall Street Analyst Weigh In

A number of research firms recently commented on RIVN. Tigress Financial restated a "buy" rating and issued a $25.00 price objective on shares of Rivian Automotive in a research report on Friday, April 10th. Canaccord Genuity Group reissued a "buy" rating and issued a $22.00 target price on shares of Rivian Automotive in a research note on Monday, April 6th. Stifel Nicolaus increased their price target on Rivian Automotive from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Benchmark reiterated a "buy" rating and set a $25.00 price objective on shares of Rivian Automotive in a report on Friday, May 1st. Finally, Bank of America started coverage on Rivian Automotive in a research report on Wednesday, March 4th. They issued an "underperform" rating and a $14.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, Rivian Automotive has an average rating of "Hold" and an average price target of $18.57.

Rivian Automotive Trading Up 2.3%

The company has a market capitalization of $17.71 billion, a P/E ratio of -4.89 and a beta of 1.64. The business has a fifty day moving average price of $15.59 and a 200 day moving average price of $16.27. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The electric vehicle automaker reported ($0.54) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.68) by $0.14. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned ($0.70) earnings per share. Rivian Automotive's quarterly revenue was down 25.8% on a year-over-year basis. On average, analysts expect that Rivian Automotive, Inc. will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 value of $455,834.40. Following the sale, the chief financial officer owned 680,836 shares of the company's stock, valued at $11,438,044.80. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 34,900 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $586,320.00. Following the transaction, the chief executive officer owned 1,044,731 shares of the company's stock, valued at $17,551,480.80. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 148,888 shares of company stock valued at $2,411,276. Insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S raised its holdings in Rivian Automotive by 36.8% during the fourth quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker's stock worth $12,102,000 after acquiring an additional 165,300 shares in the last quarter. Trek Financial LLC bought a new position in Rivian Automotive in the fourth quarter valued at approximately $6,115,000. Y Intercept Hong Kong Ltd increased its position in shares of Rivian Automotive by 244.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 1,624,707 shares of the electric vehicle automaker's stock worth $23,851,000 after purchasing an additional 1,152,551 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Rivian Automotive by 211.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 265,600 shares of the electric vehicle automaker's stock worth $3,899,000 after purchasing an additional 180,200 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Rivian Automotive by 36.4% during the 3rd quarter. New York State Common Retirement Fund now owns 597,353 shares of the electric vehicle automaker's stock worth $8,769,000 after purchasing an additional 159,400 shares in the last quarter. Institutional investors own 66.25% of the company's stock.

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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