Stifel Nicolaus Has Lowered Expectations for Rivian Automotive (NASDAQ:RIVN) Stock Price

Key Points

• Stifel Nicolaus has lowered its price target for Rivian Automotive's stock from $18.00 to $16.00, while maintaining a "buy" rating, indicating a potential upside of 33.95% from the previous close.
• Recent analyst ratings show mixed expectations, with some analysts raising their targets while others lowered them—highlighting an average hold rating with a consensus price target of $13.73.
• Rivian reported a net loss of ($0.97) EPS, missing estimates, even as the company’s revenue rose 12.5% compared to the previous year.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) had its price objective dropped by Stifel Nicolaus from $18.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the electric vehicle automaker's stock. Stifel Nicolaus' target price points to a potential upside of 33.95% from the company's previous close.

A number of other research analysts have also recently commented on the company. Piper Sandler upped their price objective on Rivian Automotive from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Needham & Company LLC cut their price objective on Rivian Automotive from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday. UBS Group reduced their price objective on shares of Rivian Automotive from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday. Mizuho lifted their price target on shares of Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Robert W. Baird decreased their price objective on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.73.

Rivian Automotive Price Performance

Shares of RIVN traded down $0.13 during mid-day trading on Friday, hitting $11.95. 11,888,560 shares of the company were exchanged, compared to its average volume of 32,876,625. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of -3.70 and a beta of 1.80. Rivian Automotive has a 1-year low of $9.50 and a 1-year high of $17.15. The company has a 50 day moving average of $13.42 and a 200-day moving average of $12.97. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.80 and a current ratio of 3.44.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.32). Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter last year, the business earned ($1.46) EPS. The business's revenue was up 12.5% compared to the same quarter last year. Analysts expect that Rivian Automotive will post -3.2 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,428 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $15.36, for a total transaction of $1,097,134.08. Following the completion of the transaction, the chief executive officer owned 1,483,111 shares in the company, valued at approximately $22,780,584.96. This represents a 4.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 17,185 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $15.39, for a total transaction of $264,477.15. Following the completion of the sale, the chief financial officer owned 824,875 shares of the company's stock, valued at approximately $12,694,826.25. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 205,694 shares of company stock valued at $3,144,612 in the last 90 days. Company insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital International Investors acquired a new stake in Rivian Automotive in the 4th quarter valued at about $144,030,000. Vanguard Group Inc. lifted its holdings in shares of Rivian Automotive by 7.8% in the first quarter. Vanguard Group Inc. now owns 77,092,693 shares of the electric vehicle automaker's stock valued at $959,804,000 after purchasing an additional 5,610,688 shares in the last quarter. Northern Trust Corp grew its position in shares of Rivian Automotive by 68.5% in the fourth quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock valued at $96,275,000 after purchasing an additional 2,941,928 shares during the last quarter. Nuveen LLC purchased a new position in shares of Rivian Automotive during the 1st quarter worth approximately $33,582,000. Finally, Twinbeech Capital LP acquired a new position in shares of Rivian Automotive during the 4th quarter worth approximately $29,944,000. Institutional investors and hedge funds own 66.25% of the company's stock.

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.

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