Rivian Automotive (NASDAQ:RIVN) Trading Down 1.4% - Should You Sell?

Key Points

• Rivian Automotive's stock fell by 1.4% on Thursday, trading at $11.90, significantly lower than its previous close of $12.07, with trading volume dropping by 69% from average levels.
• Analysts have mixed opinions on Rivian, with price targets ranging from $9.00 to $15.00; the overall consensus rating is "Hold" with a target price of $13.69.
• Rivian reported a quarterly loss of ($0.97) EPS, missing analysts' expectations, but still recorded a 12.5% year-over-year revenue growth, totaling $1.30 billion.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price dropped 1.4% during trading on Thursday . The stock traded as low as $11.84 and last traded at $11.90. Approximately 10,186,040 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 33,203,738 shares. The stock had previously closed at $12.07.

Analyst Ratings Changes

RIVN has been the subject of several analyst reports. Needham & Company LLC dropped their target price on Rivian Automotive from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. UBS Group dropped their price target on Rivian Automotive from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Piper Sandler upped their price target on Rivian Automotive from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. 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. Finally, JPMorgan Chase & Co. dropped their price target on Rivian Automotive from $10.00 to $9.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Rivian Automotive presently has a consensus rating of "Hold" and a consensus target price of $13.69.

Rivian Automotive Price Performance

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 business has a fifty day moving average of $13.05 and a 200 day moving average of $12.94. The stock has a market cap of $14.66 billion, a PE ratio of -3.74 and a beta of 1.80.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.32). Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the business earned ($1.46) EPS. The company's quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share 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 owned 789,445 shares of the company's stock, valued at approximately $9,694,384.60. This trade represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

Several hedge funds have recently made changes to their positions in RIVN. PFS Partners LLC lifted its holdings in shares of 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 worth $25,000 after purchasing an additional 1,882 shares during the last quarter. 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. Institutional investors own 66.25% of the company's stock.

About Rivian Automotive

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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