Rivian Automotive (NASDAQ:RIVN) Trading Down 3.2% - Time to Sell?

Key Points

• Rivian shares fell 3.2% to $14.87 in heavy trading, with volume about 40% above the average session level.
• Analyst sentiment remains mixed: Rivian has a consensus “Hold” rating and an average price target of $18.95, while recent targets range from $16 to $17 and ratings include Buy, Hold, and Underperform.
• Company insiders sold shares worth approximately $1.05 million over the past three months, although most of the stock remains institutionally owned, at 66.25%.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price fell 3.2% during trading on Monday . The company traded as low as $14.72 and last traded at $14.87. Approximately 43,259,707 shares changed hands during mid-day trading, an increase of 40% from the average session volume of 30,874,207 shares. The stock had previously closed at $15.36.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RIVN. Wall Street Zen raised Rivian Automotive from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Royal Bank Of Canada boosted their target price on Rivian Automotive from $14.00 to $16.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Needham & Company LLC restated a "buy" rating on shares of Rivian Automotive in a research report on Monday, August 10th. UBS Group lifted their price target on Rivian Automotive from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft downgraded Rivian Automotive from a "buy" rating to an "underperform" rating in a research report on Tuesday, August 4th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $18.95.

Rivian Automotive Stock Performance

The company has a quick ratio of 1.65, a current ratio of 2.10 and a debt-to-equity ratio of 0.87. The company has a market cap of $21.53 billion, a P/E ratio of -5.76 and a beta of 1.61. The business has a fifty day moving average of $16.50 and a 200 day moving average of $15.80.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,023 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.00, for a total value of $128,368.00. Following the sale, the chief financial officer owned 887,007 shares in the company, valued at approximately $14,192,112. This represents a 0.90% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $522,270.00. Following the transaction, the chief executive officer owned 922,286 shares of the company's stock, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 62,841 shares of company stock valued at $1,050,638 in the last three months. 1.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds have recently added to or reduced their stakes in RIVN. Newbridge Financial Services Group Inc. grew its holdings in shares of Rivian Automotive by 113.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock valued at $26,000 after buying an additional 1,000 shares during the last quarter. Core Wealth Advisors LLC purchased a new position in Rivian Automotive in the 4th quarter worth approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Rivian Automotive in the 3rd quarter valued at approximately $31,000. Zions Bancorporation National Association UT purchased a new stake in Rivian Automotive during the 4th quarter valued at $33,000. Finally, Oslo Pensjonsforsikring AS bought a new stake in shares of Rivian Automotive in the 1st quarter worth $39,000. 66.25% of the stock is owned by institutional investors.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.

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