Rivian Automotive (NASDAQ:RIVN) Director Jay Flatley Buys 1,250 Shares of Stock

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) Director Jay Flatley bought 1,250 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average cost of $8.84 per share, for a total transaction of $11,050.00. Following the completion of the transaction, the director owned 162,070 shares of the company’s stock, valued at $1,432,698.80. This represents a 0.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rivian Automotive Trading Up 1.2%

Shares of NASDAQ:RIVN traded up $0.18 during mid-day trading on Friday, hitting $15.37. The stock had a trading volume of 14,331,359 shares, compared to its average volume of 30,400,338. The company’s 50 day moving average is $16.62 and its 200-day moving average is $15.62. Rivian Automotive, Inc. has a 12-month low of $10.36 and a 12-month high of $22.69. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.89 and a current ratio of 2.33. The company has a market cap of $19.07 billion, a PE ratio of -5.01 and a beta of 1.75.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last announced its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.02. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative net margin of 67.68% and a negative return on equity of 65.05%. The company’s revenue was down 25.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.70) EPS. On average, sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Rivian Automotive News Summary

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

Analyst Ratings Changes

A number of research firms have issued reports on RIVN. Jefferies Financial Group reiterated a “hold” rating and issued a $15.00 target price on shares of Rivian Automotive in a research report on Tuesday. Robert W. Baird raised Rivian Automotive from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $14.00 to $25.00 in a research report on Thursday, December 18th. Wall Street Zen lowered Rivian Automotive from a “hold” rating to a “strong sell” rating in a report on Sunday, February 15th. Canaccord Genuity Group restated a “buy” rating on shares of Rivian Automotive in a report on Monday, December 15th. Finally, Bank of America started coverage on shares of Rivian Automotive in a research report on Wednesday. They set an “underperform” rating and a $14.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.86.

Check Out Our Latest Stock Report on RIVN

Institutional Trading of Rivian Automotive

A number of institutional investors and hedge funds have recently modified their holdings of RIVN. Caitong International Asset Management Co. Ltd raised its holdings in Rivian Automotive by 2,212.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 62,168 shares of the electric vehicle automaker’s stock worth $1,225,000 after acquiring an additional 59,480 shares during the period. Strategic Investment Solutions Inc. IL grew its position in shares of Rivian Automotive by 8,210.2% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 10,554 shares of the electric vehicle automaker’s stock valued at $208,000 after purchasing an additional 10,427 shares during the last quarter. Alpine Global Management LLC increased its stake in shares of Rivian Automotive by 0.7% in the fourth quarter. Alpine Global Management LLC now owns 2,628,299 shares of the electric vehicle automaker’s stock worth $51,804,000 after purchasing an additional 17,564 shares during the period. Virtu Financial LLC bought a new stake in Rivian Automotive during the 4th quarter valued at approximately $635,000. Finally, Compound Planning Inc. increased its position in Rivian Automotive by 21.1% in the 4th quarter. Compound Planning Inc. now owns 32,284 shares of the electric vehicle automaker’s stock worth $636,000 after buying an additional 5,620 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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