Rivian Automotive (NASDAQ:RIVN) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Rivian Automotive (NASDAQ:RIVN) from a strong sell rating to a sell rating in a research note published on Sunday morning.

Other equities analysts have also issued research reports about the stock. Tigress Financial reissued a “buy” rating and issued a $25.00 price target on shares of Rivian Automotive in a research report on Friday, April 10th. Weiss Ratings lowered shares of Rivian Automotive from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Wells Fargo & Company lifted their price target on shares of Rivian Automotive from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. UBS Group raised shares of Rivian Automotive from a “sell” rating to a “neutral” rating and lifted their price target for the company from $15.00 to $16.00 in a research report on Friday, February 13th. Finally, BNP Paribas Exane reissued an “outperform” rating and issued a $22.00 price target (down from $23.00) on shares of Rivian Automotive in a research report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and an average target price of $18.52.

Rivian Automotive Price Performance

Shares of RIVN opened at $14.22 on Friday. The firm has a market cap of $17.65 billion, a PE ratio of -4.87 and a beta of 1.64. The firm’s 50 day moving average price is $15.67 and its 200 day moving average price is $16.25. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. Rivian Automotive has a twelve month low of $11.57 and a twelve month high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 12th. The electric vehicle automaker reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.14. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The company’s revenue for the quarter was down 25.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.70) earnings per share. As a group, research analysts expect that Rivian Automotive will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 27,133 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.80, for a total transaction of $455,834.40. Following the transaction, the chief financial officer owned 680,836 shares of the company’s stock, valued at approximately $11,438,044.80. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 34,900 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $586,320.00. Following the transaction, the chief executive officer directly owned 1,044,731 shares in the company, valued at $17,551,480.80. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 148,888 shares of company stock worth $2,411,276. Insiders own 2.16% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of RIVN. Brighton Jones LLC increased its position in Rivian Automotive by 28.0% during the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker’s stock worth $235,000 after acquiring an additional 3,864 shares during the period. AQR Capital Management LLC increased its position in Rivian Automotive by 1.5% during the first quarter. AQR Capital Management LLC now owns 386,384 shares of the electric vehicle automaker’s stock worth $4,733,000 after acquiring an additional 5,590 shares during the period. Empowered Funds LLC increased its position in Rivian Automotive by 10.1% during the first quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker’s stock worth $679,000 after acquiring an additional 4,998 shares during the period. Focus Partners Wealth increased its position in Rivian Automotive by 29.0% during the first quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker’s stock worth $803,000 after acquiring an additional 14,497 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in Rivian Automotive by 57.1% during the first quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock worth $64,000 after acquiring an additional 1,856 shares during the period. Institutional investors own 66.25% of the company’s stock.

Key Headlines Impacting Rivian Automotive

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

• Positive Sentiment: Reports that Rivian is developing lower-priced R2 variants suggest a wider addressable market and better sales potential for its next-generation SUV lineup. 1 Surprising Reason Rivian Stock Is a Buy Before the SpaceX IPO
• Positive Sentiment: Uber’s order for 10,000 autonomous vehicles from Rivian reinforces a potential new commercial demand stream and helps validate Rivian’s technology platform. Uber’s Robotaxi And Parking Bets Recast Growth And Risk For Investors
• Neutral Sentiment: Analysts and commentators are also highlighting Rivian as a beneficiary of a possible SpaceX IPO, arguing that a larger EV/tech risk appetite could indirectly help sentiment toward RIVN. Here’s Why the SpaceX IPO Makes Rivian Stock a Buy
• Neutral Sentiment: Coverage about high gasoline prices notes that fuel costs likely need to rise further before they materially accelerate EV adoption, which is a broader industry factor rather than a direct Rivian-specific catalyst. How High Gas Prices Need to Rise to Boost Electric Vehicle Sales
• Negative Sentiment: Despite the upbeat R2 news, one report said RIVN is still on track for a third straight week in the red, indicating sentiment remains fragile and investors want proof that the new variants can translate into real demand and better execution. RIVN on track for third straight week in the red despite CEO teasing fresh R2 variants

Rivian Automotive Company Profile

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.