Rivian Automotive (NASDAQ:RIVN) Stock Price Up 4.3% - Should You Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price was up 4.3% during trading on Friday . The company traded as high as $14.29 and last traded at $14.27. Approximately 12,976,994 shares were traded during trading, a decline of 64% from the average daily volume of 36,107,662 shares. The stock had previously closed at $13.68.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RIVN shares. Cowen began coverage on Rivian Automotive in a report on Thursday, March 6th. They issued a "hold" rating for the company. Wedbush dropped their price target on Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Stifel Nicolaus upped their price objective on shares of Rivian Automotive from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday. Mizuho increased their price objective on shares of Rivian Automotive from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company cut their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.08.

Rivian Automotive Price Performance

The company has a fifty day simple moving average of $12.05 and a 200 day simple moving average of $12.39. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of -3.17 and a beta of 1.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

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 (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Equities research analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $11.82, for a total value of $844,290.78. Following the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at approximately $10,082,590.02. This trade represents a 7.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock valued at $2,154,905 in the last three months. Corporate insiders own 2.51% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RIVN. Larson Financial Group LLC raised its position in 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 buying an additional 722 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Rivian Automotive by 2.4% in the 1st quarter. Brown Advisory Inc. now owns 32,526 shares of the electric vehicle automaker's stock worth $405,000 after acquiring an additional 772 shares in the last quarter. First National Trust Co raised its holdings in shares of 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 valued at $199,000 after purchasing an additional 800 shares during the last quarter. Dimension Capital Management LLC lifted its position in shares of Rivian Automotive by 5.5% during the fourth quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker's stock valued at $208,000 after purchasing an additional 819 shares in the last quarter. Finally, Tradition Wealth Management LLC boosted its holdings in 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. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Company Profile

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.