Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Has Average Price Target of $19.00

Rivian Automotive, Inc. (NASDAQ:RIVN) has earned an average rating of “Hold” from the twenty-seven research firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $19.86.

Several analysts have recently weighed in on RIVN shares. Yorkville Ives started coverage on Rivian Automotive in a report on Tuesday, October 6th. They set an “outperform” rating and a $20.00 price objective on the stock. Piper Sandler upgraded Rivian Automotive from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $20.00 in a research report on Monday, July 27th. Jefferies Financial Group upped their target price on Rivian Automotive from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. TD Cowen raised their target price on Rivian Automotive from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Morgan Stanley raised their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Friday, July 31st.

Insider Buying and Selling at Rivian Automotive

In other news, insider Michael John Callahan sold 15,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00. Following the completion of the transaction, the insider directly owned 1,001,776 shares of the company’s stock, valued at approximately $15,026,640. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire McDonough sold 8,023 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the transaction, the chief financial officer directly owned 819,178 shares of the company’s stock, valued at $13,106,848. The trade was a 0.97% decrease in their ownership of the stock. 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. Insiders sold a total of 51,167 shares of company stock worth $788,306 in the last three months. Insiders own 1.48% of the company’s stock.

Institutional Trading of Rivian Automotive

Institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its stake in shares of Rivian Automotive by 17.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 295,095 shares of the electric vehicle automaker’s stock valued at $4,409,000 after purchasing an additional 42,982 shares in the last quarter. Revisor Wealth Management LLC grew its holdings in shares of Rivian Automotive by 15.6% in the 3rd quarter. Revisor Wealth Management LLC now owns 15,708 shares of the electric vehicle automaker’s stock worth $235,000 after purchasing an additional 2,114 shares during the last quarter. Cypress Capital LLC grew its holdings in shares of Rivian Automotive by 6.8% in the 3rd quarter. Cypress Capital LLC now owns 21,380 shares of the electric vehicle automaker’s stock worth $319,000 after purchasing an additional 1,367 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Rivian Automotive by 34.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 98,255 shares of the electric vehicle automaker’s stock worth $1,468,000 after purchasing an additional 25,247 shares in the last quarter. Finally, Independent Wealth Network Inc. increased its position in shares of Rivian Automotive by 13.5% during the 3rd quarter. Independent Wealth Network Inc. now owns 19,734 shares of the electric vehicle automaker’s stock worth $295,000 after purchasing an additional 2,343 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $12.43 on Friday. Rivian Automotive has a twelve month low of $12.16 and a twelve month high of $22.69. The firm has a 50-day simple moving average of $15.11 and a 200 day simple moving average of $15.72. The company has a current ratio of 2.10, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.03. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.52 billion. Rivian Automotive had a negative return on equity of 73.90% and a negative net margin of 54.96%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.97) earnings per share. As a group, research analysts forecast that Rivian Automotive will post -2.94 EPS for the current fiscal year.

Trending Headlines about Rivian Automotive

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

• Positive Sentiment: RIVN is technically oversold after losing 19.7% over four weeks, while analysts have been raising earnings estimates. That combination could indicate that selling pressure is easing and create a potential setup for a trend reversal. Rivian Automotive Loses 19.7% in 4 Weeks
• Positive Sentiment: Rivian’s investment case extends beyond the R2 launch: Volkswagen’s $1 billion commitment, improving delivery performance and ambitions for software-defined and autonomous vehicles could strengthen its long-term strategic position. Rivian: Much More Than Just The R2 Story
• Neutral Sentiment: Investor commentary has raised the possibility that Waymo could acquire Rivian, but the idea is speculative and is not an announced transaction. Jason Calacanis Predicts Waymo Could Buy Rivian
• Negative Sentiment: RIVN fell 30.5% over the three months through October 19 and closed 45% below its prior December high, underscoring persistent investor concerns about valuation, cash needs and the pace of its recovery. The bullish case depends heavily on shrinking losses as the more affordable R2 ramps up. Is Rivian Stock Cheap Enough Yet?
• Negative Sentiment: Although recent production and deliveries exceeded expectations, Rivian maintained its full-year delivery guidance rather than raising it. Analysts also continue to flag execution and funding risks, while CEO RJ Scaringe’s willingness to prioritize autonomy development over near-term profitability may prolong losses. Rivian CEO Discusses Autonomous Vehicle Designs

About Rivian Automotive

Rivian Automotive, Inc is an electric vehicle manufacturer that designs, develops and produces all-electric trucks, sport utility vehicles and commercial delivery vans. The company focuses on vehicles intended for outdoor recreation, everyday transportation and fleet use, combining battery-electric powertrains with software and connected-vehicle technologies.

Rivian’s consumer vehicle lineup includes the R1T pickup truck and R1S sport utility vehicle. The company also develops electric commercial vans for business and delivery fleets, including vehicles produced through its relationship with Amazon.