Rivian Automotive (NASDAQ:RIVN) Trading Up 2.2% - Should You Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price traded up 2.2% during mid-day trading on Monday . The stock traded as high as $13.92 and last traded at $13.88. 5,956,390 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 36,041,748 shares. The stock had previously closed at $13.57.

Analysts Set New Price Targets

Several research firms have recently issued reports on RIVN. Benchmark restated a "buy" rating and set a $18.00 price objective on shares of Rivian Automotive in a report on Tuesday, March 18th. Guggenheim restated a "buy" rating and issued a $16.00 target price on shares of Rivian Automotive in a research note on Tuesday, May 6th. Needham & Company LLC decreased their price target on shares of Rivian Automotive from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Jefferies Financial Group reissued a "hold" rating and issued a $16.00 price target on shares of Rivian Automotive in a report on Wednesday, May 14th. Finally, 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. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.33.

Rivian Automotive Stock Up 1.1%

The firm's 50-day simple moving average is $13.89 and its 200 day simple moving average is $13.17. 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 company has a market cap of $15.52 billion, a P/E ratio of -3.69 and a beta of 1.86.

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, beating analysts' consensus estimates of ($0.80) by $0.23. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $981.52 million. During the same quarter in the prior year, the company posted ($1.48) earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 9,937 shares of Rivian Automotive stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total transaction of $149,055.00. Following the transaction, the chief financial officer now directly owns 851,637 shares in the company, valued at approximately $12,774,555. The trade was a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 107,144 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $15.25, for a total value of $1,633,946.00. Following the completion of the sale, the chief executive officer now owns 1,483,111 shares of the company's stock, valued at $22,617,442.75. This trade represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,836 shares of company stock valued at $4,357,459 in the last ninety days. 2.16% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its position in shares of Rivian Automotive by 7.4% during the first quarter. Larson Financial Group LLC now owns 10,504 shares of the electric vehicle automaker's stock worth $131,000 after buying an additional 722 shares during the period. Brown Advisory Inc. lifted its stake in Rivian Automotive by 2.4% in the 1st quarter. Brown Advisory Inc. now owns 32,526 shares of the electric vehicle automaker's stock valued at $405,000 after acquiring an additional 772 shares in the last quarter. First National Trust Co boosted its position in Rivian Automotive by 5.3% during the 1st quarter. First National Trust Co now owns 16,000 shares of the electric vehicle automaker's stock worth $199,000 after acquiring an additional 800 shares during the last quarter. Dimension Capital Management LLC grew its stake in shares of Rivian Automotive by 5.5% during the 4th quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker's stock worth $208,000 after acquiring an additional 819 shares in the last quarter. Finally, Tradition Wealth Management LLC raised its holdings in shares of Rivian Automotive by 7.2% in the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock valued at $168,000 after purchasing an additional 849 shares during the last quarter. 66.25% of the stock is owned by institutional investors.

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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