Rivian Automotive (NASDAQ:RIVN) Trading 1.3% Higher - Time to Buy?

Key Points

• Rivian Automotive's stock price increased by 1.3% to $13.09, with trading volume down 28% from the average session.
• Analyst ratings vary, with five analysts rating it as a Buy, fifteen as Hold, and six as Sell, resulting in an average target price of $13.76.
• Rivian reported a quarterly loss with an EPS of (0.97), missing estimates, yet showed a 12.5% revenue increase compared to the same quarter last year.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price traded up 1.3% on Thursday . The company traded as high as $13.19 and last traded at $13.09. 25,891,338 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 35,883,043 shares. The stock had previously closed at $12.92.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen cut shares of Rivian Automotive from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. The Goldman Sachs Group increased their price target on shares of Rivian Automotive from $12.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, September 29th. Morgan Stanley reduced their price target on shares of Rivian Automotive from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rivian Automotive in a research report on Wednesday, October 8th. Finally, UBS Group increased their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $13.76.

Rivian Automotive Stock Up 1.3%

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 stock's fifty day simple moving average is $13.67 and its 200-day simple moving average is $13.47. The stock has a market cap of $15.88 billion, a P/E ratio of -4.05 and a beta of 1.82.

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

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 17,450 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $14.00, for a total value of $244,300.00. Following the sale, the chief executive officer owned 1,316,205 shares in the company, valued at approximately $18,426,870. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 7,247 shares of the firm's 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 owned 789,445 shares in the company, valued at $9,694,384.60. The trade was a 0.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,147 shares of company stock worth $577,593 in the last 90 days. 2.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

Several large investors have recently made changes to their positions in RIVN. Brighton Jones LLC increased its stake in shares of Rivian Automotive by 28.0% in the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock valued at $235,000 after purchasing an additional 3,864 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Rivian Automotive by 50.0% during the first quarter. Janney Montgomery Scott LLC now owns 90,308 shares of the electric vehicle automaker's stock valued at $1,124,000 after acquiring an additional 30,088 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Rivian Automotive by 30.9% during the first quarter. Oppenheimer & Co. Inc. now owns 34,842 shares of the electric vehicle automaker's stock valued at $434,000 after acquiring an additional 8,231 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Rivian Automotive by 4.5% during the first quarter. Asset Management One Co. Ltd. now owns 307,860 shares of the electric vehicle automaker's stock valued at $3,833,000 after acquiring an additional 13,392 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of Rivian Automotive by 107.9% during the first quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker's stock valued at $41,000 after acquiring an additional 1,714 shares during the period. Institutional investors and hedge funds 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.

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