Rivian Automotive (NASDAQ:RIVN) Trading Up 3.4%

Rivian Automotive, Inc. (NASDAQ:RIVN) traded up 3.4% during mid-day trading on Tuesday . The stock traded as high as $9.13 and last traded at $9.09. 11,523,041 shares were traded during mid-day trading, a decline of 73% from the average session volume of 42,559,816 shares. The stock had previously closed at $8.79.

Wall Street Analysts Forecast Growth

RIVN has been the subject of several analyst reports. DA Davidson cut their price target on shares of Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Piper Sandler raised Rivian Automotive from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $15.00 to $21.00 in a research note on Friday, March 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 target price on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Evercore ISI lowered their price target on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Finally, Barclays cut their price objective on Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.61.

Rivian Automotive Stock Up 4.1 %

The company has a 50 day moving average price of $11.39 and a 200-day moving average price of $15.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90. The stock has a market capitalization of $8.94 billion, a PE ratio of -1.58 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. As a group, analysts forecast that Rivian Automotive, Inc. will post -4.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

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

Institutional Investors Weigh In On Rivian Automotive

A number of large investors have recently added to or reduced their stakes in the stock. Bear Mountain Capital Inc. bought a new stake in shares of Rivian Automotive in the fourth quarter worth $26,000. Ancora Advisors LLC bought a new stake in shares of Rivian Automotive during the 3rd quarter valued at about $27,000. MCF Advisors LLC increased its position in shares of Rivian Automotive by 396.8% during the 3rd quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock valued at $30,000 after purchasing an additional 1,000 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Rivian Automotive by 1,537.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock worth $32,000 after purchasing an additional 1,245 shares during the period. Finally, Principal Securities Inc. bought a new position in Rivian Automotive in the fourth quarter worth approximately $33,000. Institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

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.