Stifel Nicolaus Increases Rivian Automotive (NASDAQ:RIVN) Price Target to $18.00

Rivian Automotive (NASDAQ:RIVN - Free Report) had its price objective raised by Stifel Nicolaus from $16.00 to $18.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the electric vehicle automaker's stock.

Several other equities analysts have also commented on RIVN. Barclays increased their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 22nd. Bank of America lowered shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $13.00 to $10.00 in a report on Monday, February 24th. UBS Group raised their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wedbush lowered their target price on shares of Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Sanford C. Bernstein started coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price for the company. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $14.16.

Rivian Automotive Stock Performance

RIVN stock traded down $0.38 during midday trading on Monday, reaching $14.49. 21,720,055 shares of the company's stock traded hands, compared to its average volume of 32,998,293. Rivian Automotive has a 52-week low of $9.50 and a 52-week high of $18.85. The stock has a market cap of $16.38 billion, a P/E ratio of -3.07 and a beta of 1.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock's 50-day moving average is $12.13 and its 200 day moving average is $12.41.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.69) by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. As a group, analysts anticipate that Rivian Automotive will post -3.2 EPS for the current year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction that occurred on 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. Insiders sold 185,427 shares of company stock worth $2,154,905 in the last three months. Corporate insiders own 2.51% of the company's stock.

Hedge Funds Weigh In On Rivian Automotive

Large investors have recently made changes to their positions in the company. Tandem Financial LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $25,000. PFS Partners LLC lifted its stake 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 valued at $25,000 after purchasing an additional 1,882 shares during the period. Bank of Jackson Hole Trust acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive in the 3rd quarter valued at $28,000. Finally, Orion Capital Management LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $34,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Company Profile

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.