Rivian Automotive (NASDAQ:RIVN) Stock Rating Upgraded by Wall Street Zen

Rivian Automotive (NASDAQ:RIVN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other brokerages have also commented on RIVN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rivian Automotive in a research report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price target on Rivian Automotive from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Monday, October 20th. Wedbush raised their price objective on Rivian Automotive from $16.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Robert W. Baird raised Rivian Automotive from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $14.00 to $25.00 in a report on Thursday, December 18th. Finally, Morgan Stanley restated an “underweight” rating and set a $12.00 price objective on shares of Rivian Automotive in a research report on Monday, December 8th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and an average price target of $16.74.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $14.81 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23. Rivian Automotive has a fifty-two week low of $10.36 and a fifty-two week high of $22.69. The firm has a fifty day moving average price of $17.89 and a two-hundred day moving average price of $15.28. The company has a market cap of $18.16 billion, a PE ratio of -4.76 and a beta of 1.76.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 52,350 shares of Rivian Automotive stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total transaction of $869,010.00. Following the completion of the transaction, the chief executive officer directly owned 1,246,405 shares of the company’s stock, valued at approximately $20,690,323. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 21,210 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $17.14, for a total transaction of $363,539.40. Following the completion of the sale, the chief financial officer owned 738,056 shares in the company, valued at $12,650,279.84. This represents a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 172,504 shares of company stock worth $3,012,734 in the last 90 days. 2.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rivian Automotive

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake 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 buying an additional 3,864 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Rivian Automotive by 1.5% in the 1st 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 in the last quarter. Empowered Funds LLC grew its position in Rivian Automotive by 10.1% during the 1st 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 last quarter. Focus Partners Wealth grew its position in Rivian Automotive by 29.0% during the 1st 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 last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Rivian Automotive by 57.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock valued at $64,000 after purchasing an additional 1,856 shares in the last quarter. 66.25% of the stock is owned by institutional investors.

About Rivian Automotive

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.