Rivian Automotive (NASDAQ:RIVN) Trading 3.8% Higher - Should You Buy?

Key Points

• Rivian Automotive's stock increased by 3.8% on Friday, with the last trading price at $14.22, but the trading volume was down 40% compared to its average.
• Analysts have mixed sentiments about Rivian, with Piper Sandler upgrading its target price to $15, while Downgrades from Morgan Stanley and UBS have lowered their target prices to $12.
• The company reported a loss of $0.97 per share, missing analyst estimates, despite a revenue increase of 12.5% year-over-year, totaling $1.30 billion for the quarter.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) traded up 3.8% on Friday . The stock traded as high as $14.47 and last traded at $14.22. 20,808,642 shares were traded during mid-day trading, a decline of 40% from the average session volume of 34,412,117 shares. The stock had previously closed at $13.70.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their target price on Rivian Automotive from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Morgan Stanley decreased their target price on Rivian Automotive from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. UBS Group decreased their target price on Rivian Automotive from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen downgraded Rivian Automotive from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, Guggenheim downgraded Rivian Automotive from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Rivian Automotive has a consensus rating of "Hold" and a consensus price target of $13.69.

Rivian Automotive Price Performance

The company has a current ratio of 3.44, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $12.99 and a two-hundred day moving average price of $12.97. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of -4.40 and a beta of 1.81.

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

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 7,247 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $12.28, for a total value of $88,993.16. Following the sale, the chief financial officer directly owned 789,445 shares in the company, valued at $9,694,384.60. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

Large investors have recently added to or reduced their stakes in the business. PFS Partners LLC increased its position in Rivian Automotive by 1,882.0% in the 1st quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock valued at $25,000 after acquiring an additional 1,882 shares during the period. Assetmark Inc. increased its position in Rivian Automotive by 315.6% in the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker's stock valued at $25,000 after acquiring an additional 1,357 shares during the period. Banque Transatlantique SA increased its position in Rivian Automotive by 13,194.1% in the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock valued at $26,000 after acquiring an additional 2,243 shares during the period. Newbridge Financial Services Group Inc. increased its position in Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock valued at $26,000 after acquiring an additional 1,000 shares during the period. Finally, Fairman Group LLC acquired a new stake in Rivian Automotive in the 2nd quarter valued at approximately $31,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.