Rivian Automotive (NASDAQ:RIVN) Stock Rating Upgraded by Wall Street Zen

Rivian Automotive (NASDAQ:RIVN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

A number of other research firms have also issued reports on RIVN. Piper Sandler boosted their price objective on Rivian Automotive from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. UBS Group upped their price target on Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group cut their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Benchmark reaffirmed a "buy" rating and set a $18.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 18th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $15.00 target price on shares of Rivian Automotive in a report on Wednesday, May 7th. Three investment 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. According to data from MarketBeat.com, Rivian Automotive has a consensus rating of "Hold" and an average price target of $14.33.

Rivian Automotive Stock Performance

Shares of RIVN traded down $0.05 during trading hours on Friday, hitting $13.76. The company's stock had a trading volume of 14,546,528 shares, compared to its average volume of 35,692,438. The business has a 50 day simple moving average of $13.96 and a two-hundred day simple moving average of $13.18. Rivian Automotive has a 52-week low of $9.50 and a 52-week high of $18.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.73 and a quick ratio of 2.80. The company has a market cap of $15.56 billion, a price-to-earnings ratio of -3.70 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) earnings per share for the quarter, beating 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $981.52 million. During the same period in the previous year, the business earned ($1.48) EPS. Rivian Automotive's revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Rivian Automotive will post -3.2 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 17,185 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 824,875 shares of the company's stock, valued at $12,694,826.25. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 35,713 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $11.46, for a total transaction of $409,270.98. Following the sale, the chief executive officer now owns 853,011 shares of the company's stock, valued at approximately $9,775,506.06. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 312,836 shares of company stock valued at $4,357,459. Corporate insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RIVN. PFS Partners LLC boosted its holdings in Rivian Automotive by 1,882.0% during 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. Banque Transatlantique SA lifted its position in Rivian Automotive by 13,194.1% in the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 2,243 shares during the last quarter. Orion Capital Management LLC bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $34,000. WPG Advisers LLC purchased a new stake in shares of Rivian Automotive during the first quarter valued at approximately $34,000. Finally, Olde Wealth Management LLC bought a new position in shares of Rivian Automotive in the first quarter worth approximately $37,000. 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.