Rivian Automotive (NASDAQ:RIVN) Trading 4.5% Higher - Still a Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price traded up 4.5% on Tuesday . The stock traded as high as $14.23 and last traded at $14.32. 14,901,252 shares traded hands during trading, a decline of 55% from the average session volume of 32,797,684 shares. The stock had previously closed at $13.70.

Wall Street Analysts Forecast Growth

RIVN has been the topic of a number of research reports. Mizuho upped their price target on Rivian Automotive from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company dropped their price objective on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Rivian Automotive from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Robert W. Baird dropped their price objective on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler upped their price target on shares of Rivian Automotive from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $14.38.

Rivian Automotive Stock Up 3.2%

The business's 50 day moving average is $14.12 and its 200-day moving average is $13.09. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.80 and a current ratio of 3.73. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of -3.80 and a beta of 1.81.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) EPS for the quarter, topping analysts' consensus estimates 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 last year, the firm earned ($1.48) EPS. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 17,185 shares of Rivian Automotive stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.39, for a total value of $264,477.15. Following the transaction, the chief financial officer owned 824,875 shares of the company's stock, valued at approximately $12,694,826.25. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 107,144 shares of Rivian Automotive stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $15.25, for a total transaction of $1,633,946.00. Following the completion of the transaction, the chief executive officer directly owned 1,483,111 shares in the company, valued at approximately $22,617,442.75. The trade was a 6.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 205,694 shares of company stock valued at $3,144,612. Insiders own 2.16% of the company's stock.

Institutional Trading of Rivian Automotive

A number of institutional investors have recently made changes to their positions in the business. Capital International Investors acquired a new position in shares of Rivian Automotive in the fourth quarter valued at about $144,030,000. Norges Bank acquired a new stake in Rivian Automotive during the fourth quarter worth about $123,308,000. Vanguard Group Inc. grew its stake in Rivian Automotive by 7.8% during the first quarter. Vanguard Group Inc. now owns 77,092,693 shares of the electric vehicle automaker's stock worth $959,804,000 after buying an additional 5,610,688 shares in the last quarter. Northern Trust Corp grew its stake in Rivian Automotive by 68.5% during the fourth quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock worth $96,275,000 after buying an additional 2,941,928 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Rivian Automotive during the first quarter worth about $33,582,000. 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.

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