Rivian Automotive (NASDAQ:RIVN) Earns Neutral Rating from Mizuho

Mizuho restated their neutral rating on shares of Rivian Automotive (NASDAQ:RIVN) in a research note published on Monday, Marketbeat.com reports. They currently have a $12.00 price target on the electric vehicle automaker’s stock.

Several other research analysts have also commented on RIVN. The Goldman Sachs Group decreased their target price on Rivian Automotive from $20.00 to $17.00 and set a neutral rating for the company in a research report on Thursday, January 25th. Needham & Company LLC decreased their target price on Rivian Automotive from $22.00 to $18.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $19.00 target price (down previously from $29.00) on shares of Rivian Automotive in a research report on Wednesday, January 17th. DA Davidson reduced their price objective on Rivian Automotive from $19.00 to $17.00 and set a neutral rating for the company in a research report on Thursday, February 22nd. Finally, Truist Financial restated a hold rating and set a $11.00 price objective (down previously from $26.00) on shares of Rivian Automotive in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $20.26.

Rivian Automotive Price Performance

RIVN stock opened at $10.95 on Monday. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48. Rivian Automotive has a 52-week low of $10.05 and a 52-week high of $28.06. The stock’s 50 day moving average is $13.41 and its two-hundred day moving average is $17.39. The company has a market capitalization of $10.70 billion, a PE ratio of -1.91 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Analysts predict that Rivian Automotive will post -4.79 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In other news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the sale, the insider now directly owns 407,787 shares in the company, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,306 shares of company stock valued at $717,274. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Eaton Vance Management raised its position in shares of Rivian Automotive by 6.8% during the first quarter. Eaton Vance Management now owns 7,843 shares of the electric vehicle automaker’s stock worth $394,000 after purchasing an additional 497 shares during the period. Gould Capital LLC raised its position in shares of Rivian Automotive by 32.6% during the second quarter. Gould Capital LLC now owns 2,035 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 500 shares during the period. D.A. Davidson & CO. raised its position in shares of Rivian Automotive by 9.1% during the first quarter. D.A. Davidson & CO. now owns 6,176 shares of the electric vehicle automaker’s stock worth $310,000 after purchasing an additional 515 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in shares of Rivian Automotive by 1.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 35,904 shares of the electric vehicle automaker’s stock worth $662,000 after purchasing an additional 577 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in Rivian Automotive by 1,329.5% during the first quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker’s stock valued at $32,000 after buying an additional 585 shares during the period. 66.25% of the stock is 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.