Rivian Automotive (NASDAQ:RIVN) Trading Up 1.8% – Still a Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price rose 1.8% on Tuesday . The company traded as high as $15.60 and last traded at $14.96. Approximately 36,346,795 shares were traded during trading, an increase of 26% from the average daily volume of 28,940,902 shares. The stock had previously closed at $14.69.

Analyst Upgrades and Downgrades

RIVN has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of Rivian Automotive from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Wolfe Research lowered shares of Rivian Automotive from a “peer perform” rating to an “underperform” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rivian Automotive in a research note on Thursday, January 22nd. Zacks Research upgraded Rivian Automotive from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Finally, Canaccord Genuity Group reiterated a “buy” rating on shares of Rivian Automotive in a report on Monday, December 15th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, Rivian Automotive presently has an average rating of “Hold” and a consensus target price of $16.74.

Rivian Automotive Price Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23. The business’s fifty day moving average is $17.84 and its 200-day moving average is $15.28. The firm has a market cap of $18.34 billion, a PE ratio of -4.81 and a beta of 1.76.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 21,210 shares of Rivian Automotive stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $17.14, for a total transaction of $363,539.40. Following the completion of the transaction, the chief financial officer owned 738,056 shares of the company’s stock, valued at $12,650,279.84. The trade was a 2.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Krawiec sold 3,655 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $19.45, for a total transaction of $71,089.75. Following the sale, the director directly owned 29,122 shares in the company, valued at $566,422.90. This trade represents a 11.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 120,154 shares of company stock valued at $2,143,724. Company insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RIVN. Charles Schwab Investment Management Inc. grew its position in Rivian Automotive by 15.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,849,818 shares of the electric vehicle automaker’s stock valued at $80,376,000 after acquiring an additional 799,030 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Rivian Automotive during the 2nd quarter valued at $1,324,000. Farther Finance Advisors LLC raised its position in Rivian Automotive by 227.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 117,096 shares of the electric vehicle automaker’s stock worth $1,719,000 after purchasing an additional 81,291 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in Rivian Automotive by 244.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 1,624,707 shares of the electric vehicle automaker’s stock worth $23,851,000 after purchasing an additional 1,152,551 shares during the last quarter. Finally, Tableaux LLC purchased a new stake in Rivian Automotive during the second quarter valued at about $3,435,000. Institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

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.