Rivian Automotive (NASDAQ:RIVN) Downgraded by Wall Street Zen to Sell

Rivian Automotive (NASDAQ:RIVN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

RIVN has been the topic of a number of other research reports. Wedbush dropped their target price on Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus raised their price objective on Rivian Automotive from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Wells Fargo & Company cut their price objective on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Robert W. Baird lowered their target price on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group dropped their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $14.33.

Rivian Automotive Stock Down 2.7%

RIVN traded down $0.37 during trading on Friday, hitting $13.39. 21,361,867 shares of the company's stock were exchanged, compared to its average volume of 36,174,865. The company has a quick ratio of 2.80, a current ratio of 3.73 and a debt-to-equity ratio of 0.71. The business's 50 day moving average is $13.76 and its two-hundred day moving average is $13.13. Rivian Automotive has a fifty-two week low of $9.50 and a fifty-two week high of $18.86. The stock has a market cap of $15.14 billion, a P/E ratio of -3.60 and a beta of 1.86.

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

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 9,937 shares of Rivian Automotive stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total transaction of $149,055.00. Following the completion of the transaction, the chief financial officer now owns 851,637 shares of the company's stock, valued at $12,774,555. The trade was a 1.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 384,265 shares of company stock worth $5,201,750. Corporate insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Rivian Automotive by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock worth $63,055,000 after buying an additional 133,781 shares in the last quarter. Twinbeech Capital LP bought a new stake in shares of Rivian Automotive during the 4th quarter valued at about $29,944,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Rivian Automotive during the fourth quarter worth about $1,363,000. Groupama Asset Managment bought a new position in shares of Rivian Automotive in the fourth quarter worth approximately $26,600,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Rivian Automotive in the fourth quarter worth approximately $10,448,000. 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.