Rivian Automotive (NASDAQ:RIVN) Stock Price Up 0.2%

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price traded up 0.2% during trading on Wednesday . The stock traded as high as $9.20 and last traded at $9.06. 13,150,852 shares were traded during mid-day trading, a decline of 69% from the average session volume of 42,480,000 shares. The stock had previously closed at $9.04.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Robert W. Baird dropped their price objective on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Jefferies Financial Group assumed coverage on Rivian Automotive in a report on Thursday, March 7th. They set a “buy” rating and a $16.00 price objective for the company. Needham & Company LLC cut their target price on Rivian Automotive from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Piper Sandler upgraded Rivian Automotive from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $15.00 to $21.00 in a research report on Friday, March 15th. Finally, Stifel Nicolaus decreased their target price on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating for the company in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive currently has an average rating of “Moderate Buy” and a consensus price target of $19.61.

Rivian Automotive Price Performance

The company has a market capitalization of $8.39 billion, a PE ratio of -1.48 and a beta of 1.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90. The firm has a 50-day moving average of $10.98 and a 200 day moving average of $15.60.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results 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 business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -4.76 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In related news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the sale, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now owns 155,749 shares in the company, valued at approximately $2,523,133.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction that occurred 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 transaction, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Insiders have sold 54,306 shares of company stock valued at $717,274 over the last quarter. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rivian Automotive

Large investors have recently bought and sold shares of the business. Ancora Advisors LLC purchased a new position in Rivian Automotive during the 3rd quarter valued at $27,000. Bear Mountain Capital Inc. purchased a new position in Rivian Automotive during the 4th quarter valued at $26,000. MCF Advisors LLC raised its position in Rivian Automotive by 396.8% during the 3rd quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock valued at $30,000 after purchasing an additional 1,000 shares in the last quarter. First Horizon Advisors Inc. raised its position in Rivian Automotive by 1,537.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock valued at $32,000 after purchasing an additional 1,245 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in Rivian Automotive during the 4th quarter valued at $33,000. Hedge funds and other institutional investors 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.