Rivian Automotive (RIVN) Projected to Post Quarterly Earnings on Thursday

Rivian Automotive (NASDAQ:RIVN - Get Free Report) is expected to be posting its quarterly earnings results after the market closes on Thursday, February 20th. Analysts expect Rivian Automotive to post earnings of ($0.69) per share and revenue of $1.43 billion for the quarter. Individual interested in registering for the company's earnings conference call can do so using this link.

Rivian Automotive Stock Up 5.5 %

Shares of RIVN traded up $0.73 on Friday, reaching $14.03. The company's stock had a trading volume of 33,856,768 shares, compared to its average volume of 27,819,302. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $18.85. The stock has a market capitalization of $14.32 billion, a PE ratio of -2.51 and a beta of 2.04. The firm has a fifty day moving average of $13.59 and a 200-day moving average of $12.53.

Insider Activity at Rivian Automotive

In other news, CFO Claire Mcdonough sold 18,501 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the sale, the chief financial officer now directly owns 351,900 shares in the company, valued at approximately $5,278,500. The trade was a 4.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 363,142 shares of company stock valued at $4,958,860 over the last 90 days. 2.51% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RIVN has been the subject of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 price objective on shares of Rivian Automotive in a research note on Monday, January 6th. The Goldman Sachs Group increased their target price on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Mizuho cut their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Truist Financial raised their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Finally, UBS Group raised their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $15.13.

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.