Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Rated “Hold” by Wall Street Brokerages

Rivian Automotive, Inc. (NASDAQ:RIVN) has earned a consensus recommendation of “Hold” from the twenty-eight analysts that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.00.

Several research analysts have recently weighed in on RIVN shares. Wall Street Zen upgraded shares of Rivian Automotive from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Piper Sandler raised Rivian Automotive from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $20.00 in a report on Monday, July 27th. Deutsche Bank Aktiengesellschaft downgraded Rivian Automotive from a “buy” rating to an “underperform” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Finally, Citigroup started coverage on Rivian Automotive in a research note on Monday, September 14th. They issued a “hold” rating and a $18.00 price objective for the company.

Key Rivian Automotive News

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

• Positive Sentiment: Rivian outperformed the broader market in the latest trading session, indicating continued investor interest in the electric-vehicle maker despite its history of volatility. Rivian Automotive Exceeds Market Returns
• Positive Sentiment: Some analysts view Rivian as potentially undervalued relative to the broader market and believe its long-term opportunity could improve if the company successfully scales production and executes on its upcoming vehicle lineup. Rivian vs. the S&P 500
• Neutral Sentiment: Rivian’s share performance was notable because the broader market declined, but the article provided limited new fundamental information to explain the move. Why the Market Dipped But Rivian Gained
• Neutral Sentiment: Recent commentary comparing Rivian with Tesla highlights its smaller valuation and potentially greater upside, but also its substantially higher execution and profitability risk. Tesla vs. Rivian
• Negative Sentiment: Rivian is facing a recall involving a rearview-camera software flaw. Although the company reportedly addressed the issue efficiently, recalls can add costs and increase investor concerns about vehicle quality. Rivian Rearview Camera Software Recall
• Negative Sentiment: A separate NHTSA filing identified a recall of 98,828 vehicles, including the R1S and R1T and the newer R2, reinforcing concerns about manufacturing reliability as Rivian expands. Rivian’s Largest Recall
• Negative Sentiment: Valuation analysis suggests RIVN may already reflect much of the expected sales growth, leaving limited room for upside unless revenue accelerates and the company makes progress toward profitability. Rivian Stock May Be Fully Priced on Sales Growth

Rivian Automotive Price Performance

NASDAQ RIVN opened at $15.47 on Monday. The company has a 50-day moving average price of $15.94 and a 200-day moving average price of $15.91. Rivian Automotive has a 52 week low of $12.39 and a 52 week high of $22.69. The company has a quick ratio of 1.65, a current ratio of 2.10 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $22.40 billion, a P/E ratio of -6.00 and a beta of 1.62.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Thursday, July 30th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.03. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted ($0.97) earnings per share. The firm’s revenue was up 27.2% compared to the same quarter last year. Equities research analysts anticipate that Rivian Automotive will post -2.96 earnings per share for the current year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire McDonough sold 13,144 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $14.50, for a total value of $190,588.00. Following the sale, the chief financial officer owned 827,201 shares in the company, valued at $11,994,414.50. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael John Callahan sold 15,000 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $16.29, for a total transaction of $244,350.00. Following the completion of the sale, the insider owned 1,016,776 shares in the company, valued at approximately $16,563,281.04. The trade was a 1.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 56,167 shares of company stock worth $963,306. 1.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in Rivian Automotive by 4.0% during the 1st quarter. Parallel Advisors LLC now owns 16,056 shares of the electric vehicle automaker’s stock worth $242,000 after purchasing an additional 613 shares during the period. Tradition Wealth Management LLC lifted its holdings in shares of Rivian Automotive by 5.7% in the 4th quarter. Tradition Wealth Management LLC now owns 14,056 shares of the electric vehicle automaker’s stock worth $277,000 after buying an additional 753 shares during the period. Reynders McVeigh Capital Management LLC lifted its holdings in shares of Rivian Automotive by 6.8% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 15,767 shares of the electric vehicle automaker’s stock worth $274,000 after buying an additional 1,000 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Rivian Automotive by 2.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 56,758 shares of the electric vehicle automaker’s stock worth $985,000 after buying an additional 1,134 shares in the last quarter. Finally, MTM Investment Management LLC grew its position in shares of Rivian Automotive by 115.0% during the 4th quarter. MTM Investment Management LLC now owns 2,150 shares of the electric vehicle automaker’s stock worth $42,000 after buying an additional 1,150 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

Rivian Automotive, Inc designs, develops and manufactures electric vehicles and related technology. Its consumer vehicle lineup includes the R1T electric pickup truck and R1S electric SUV, which are designed for on-road and off-road use. The company also develops charging solutions, vehicle software and connected services intended to support the ownership and operation of its electric vehicles.

Rivian produces electric commercial vans for delivery and fleet applications, including vehicles developed through its relationship with Amazon.