Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $18.67 Consensus Target Price from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has been given an average rating of “Hold” by the twenty-six brokerages that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.8571.

RIVN has been the subject of a number of recent analyst reports. Tigress Financial reissued a “buy” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research report on Friday, April 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Rivian Automotive in a report on Monday, April 6th. Cantor Fitzgerald restated a “neutral” rating on shares of Rivian Automotive in a research note on Monday, June 15th. TD Cowen reissued a “buy” rating and set a $20.00 price target on shares of Rivian Automotive in a report on Wednesday, June 3rd. Finally, UBS Group raised their price objective on Rivian Automotive from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, July 9th.

Rivian Automotive News Summary

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: California’s new EV rebate could support demand for Rivian by giving first-time EV buyers a $3,500 incentive on eligible vehicles, potentially helping models priced at or below the $50,000 cap. California’s new EV incentive gives a leg up to Lucid and Rivian
• Positive Sentiment: Rivian’s stock was noted by Zacks as outperforming the broader market, reflecting continued investor interest and momentum in the shares. Rivian Automotive (RIVN) Surpasses Market Returns: Some Facts Worth Knowing
• Positive Sentiment: Morgan Stanley raised its price target on Rivian to $13 from $12, which can signal slightly improved expectations even though the firm still rates the stock “underweight.” Morgan Stanley price target update via Benzinga
• Neutral Sentiment: Analysts say Rivian’s next major stock catalyst may be updates on R2 demand at its late-July earnings report, meaning investors are waiting for proof that the new vehicle platform is gaining traction. Rivian Stock Volatility Won’t Be Tamed by Earnings
• Neutral Sentiment: Coverage around Rivian-backed ALSO, the e-bike startup, keeps the company in the news but does not directly change Rivian’s core EV outlook in the near term. Inside ALSO, the Rivian-backed e-bike startup
• Negative Sentiment: Rivian was ranked last in a quality survey, which may reinforce concerns about product perception and execution. Rivian (RIVN) Ranked Last In Quality Survey While Backing Also With DoorDash
• Negative Sentiment: Commentary on Rivian’s recent share offering and ongoing volatility suggests investors remain focused on dilution risk and uncertainty around how quickly the company can convert product launches into sustained demand. Eyes on Rivian Automotive after R2 launch and large share offering

Insider Buying and Selling

In other news, Director Karen Boone sold 20,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the director owned 110,000 shares of the company’s stock, valued at $2,200,000. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.00, for a total transaction of $128,368.00. Following the sale, the chief financial officer directly owned 887,007 shares of the company’s stock, valued at approximately $14,192,112. This represents a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 78,630 shares of company stock worth $1,309,504. Insiders own 1.48% of the company’s stock.

Institutional Trading of Rivian Automotive

Several large investors have recently added to or reduced their stakes in RIVN. Core Wealth Advisors LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at about $27,000. SOA Wealth Advisors LLC. increased its holdings in Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock valued at $31,000 after purchasing an additional 1,395 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at $33,000. Glass Jacobson Investment Advisors llc grew its position in Rivian Automotive by 96.3% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 852 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 1,000 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

RIVN opened at $17.50 on Wednesday. The business’s 50-day moving average is $15.85 and its two-hundred day moving average is $16.15. Rivian Automotive has a 1 year low of $11.57 and a 1 year high of $22.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. The firm has a market capitalization of $21.72 billion, a PE ratio of -5.99 and a beta of 1.60.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted ($0.48) earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that Rivian Automotive will post -3.07 earnings per share for the current fiscal year.

Rivian Automotive Company Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.