Rivian Automotive (NASDAQ:RIVN) Raised to “Buy” at Deutsche Bank Aktiengesellschaft

Rivian Automotive (NASDAQ:RIVNGet Free Report) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued on Friday,Benzinga reports. The firm currently has a $23.00 price objective on the electric vehicle automaker’s stock, up from their previous price objective of $16.00. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 64.29% from the stock’s current price.

Other analysts also recently issued research reports about the company. Zacks Research raised Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Stifel Nicolaus boosted their price target on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Evercore reiterated an “outperform” rating on shares of Rivian Automotive in a research report on Monday, December 15th. Morgan Stanley restated an “underweight” rating and issued a $12.00 target price on shares of Rivian Automotive in a report on Monday, December 8th. Finally, The Goldman Sachs Group increased their price target on shares of Rivian Automotive from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.08.

Check Out Our Latest Analysis on RIVN

Rivian Automotive Stock Performance

RIVN opened at $14.00 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. The stock has a market capitalization of $17.16 billion, a price-to-earnings ratio of -4.50 and a beta of 1.76. The company has a fifty day moving average of $17.66 and a 200 day moving average of $15.28. Rivian Automotive has a fifty-two week low of $10.36 and a fifty-two week high of $22.69.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last released its quarterly earnings data on Thursday, February 12th. The electric vehicle automaker reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.02. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned ($0.70) EPS. The business’s revenue was down 25.8% on a year-over-year basis. As a group, sell-side analysts forecast that Rivian Automotive will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rivian Automotive news, Director Peter Krawiec sold 3,655 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $19.45, for a total value of $71,089.75. Following the completion of the sale, the director owned 29,122 shares of the company’s stock, valued at $566,422.90. This trade represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 17,450 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $16.03, for a total value of $279,723.50. Following the transaction, the chief executive officer directly owned 1,115,209 shares in the company, valued at approximately $17,876,800.27. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 120,154 shares of company stock valued at $2,143,724 in the last ninety days. 2.16% of the stock is owned by company insiders.

Institutional Trading of Rivian Automotive

Institutional investors and hedge funds have recently made changes to their positions in the business. Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of Rivian Automotive by 7.6% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,805 shares of the electric vehicle automaker’s stock valued at $331,000 after purchasing an additional 1,184 shares during the period. Circle Wealth Management LLC purchased a new position in Rivian Automotive in the 4th quarter worth about $1,636,000. Advisors Asset Management Inc. lifted its holdings in Rivian Automotive by 7.5% during the 4th quarter. Advisors Asset Management Inc. now owns 50,982 shares of the electric vehicle automaker’s stock valued at $1,005,000 after buying an additional 3,568 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its position in Rivian Automotive by 33.1% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 131,013 shares of the electric vehicle automaker’s stock valued at $2,582,000 after buying an additional 32,576 shares during the period. Finally, DRW Securities LLC grew its stake in Rivian Automotive by 145.1% in the 4th quarter. DRW Securities LLC now owns 10,367 shares of the electric vehicle automaker’s stock worth $204,000 after acquiring an additional 6,137 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive News Summary

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

About Rivian Automotive

(Get Free Report)

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.

Read More

Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

Receive News & Ratings for Rivian Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rivian Automotive and related companies with MarketBeat.com's FREE daily email newsletter.