Rivian Automotive (NASDAQ:RIVN) Shares Up 1.4%

Rivian Automotive, Inc. (NASDAQ:RIVN) shares rose 1.4% on Tuesday . The stock traded as high as $8.71 and last traded at $8.52. Approximately 19,952,991 shares changed hands during trading, a decline of 54% from the average daily volume of 43,172,215 shares. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

RIVN has been the topic of several recent research reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Rivian Automotive in a research report on Thursday, January 4th. The Goldman Sachs Group cut their price objective on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Barclays lowered their price target on Rivian Automotive from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Truist Financial reiterated a “hold” rating and set a $11.00 price target on shares of Rivian Automotive in a report on Friday. Finally, Robert W. Baird lowered their price target on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.91.

Rivian Automotive Trading Up 3.9 %

The business has a 50 day moving average price of $12.12 and a 200 day moving average price of $16.24. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $8.53 billion, a P/E ratio of -1.48 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Analysts anticipate that Rivian Automotive, Inc. will post -4.8 EPS for the current year.

Insider Buying and Selling

In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the transaction, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the transaction, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The disclosure for this sale can be found here. In the last three months, insiders sold 54,306 shares of company stock valued at $717,274. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Large investors have recently added to or reduced their stakes in the business. Stifel Financial Corp raised its stake in Rivian Automotive by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 288,191 shares of the electric vehicle automaker’s stock valued at $6,997,000 after acquiring an additional 19,699 shares during the period. CenterBook Partners LP bought a new position in Rivian Automotive during the 3rd quarter worth $4,473,000. Atria Wealth Solutions Inc. increased its position in Rivian Automotive by 448.0% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 229,347 shares of the electric vehicle automaker’s stock worth $5,569,000 after buying an additional 187,495 shares during the period. Morgan Stanley increased its position in Rivian Automotive by 14.0% during the 3rd quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock worth $235,409,000 after buying an additional 1,193,650 shares during the period. Finally, Aigen Investment Management LP bought a new position in Rivian Automotive during the 3rd quarter worth $1,806,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.