Rivian Automotive (NASDAQ:RIVN) Director Jay Flatley Buys 490 Shares

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) Director Jay Flatley purchased 490 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were bought at an average price of $20.67 per share, for a total transaction of $10,128.30. Following the completion of the transaction, the director directly owned 161,310 shares in the company, valued at approximately $3,334,277.70. This trade represents a 0.30% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN traded up $0.27 during midday trading on Thursday, reaching $15.19. 27,648,360 shares of the company traded hands, compared to its average volume of 30,787,961. The stock has a 50-day moving average price of $16.73 and a 200 day moving average price of $15.63. The company has a market cap of $18.85 billion, a price-to-earnings ratio of -4.95 and a beta of 1.75. Rivian Automotive, Inc. has a 52 week low of $10.36 and a 52 week high of $22.69. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.33 and a quick ratio of 1.89.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last posted its quarterly earnings data on Thursday, February 12th. The electric vehicle automaker reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.02. Rivian Automotive had a negative net margin of 67.68% and a negative return on equity of 65.05%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted ($0.70) EPS. The company’s revenue was down 25.8% on a year-over-year basis. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RIVN has been the topic of several research analyst reports. Wolfe Research cut Rivian Automotive from a “peer perform” rating to an “underperform” rating in a report on Monday, January 12th. Wedbush restated an “outperform” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research report on Friday, February 13th. Evercore reissued an “outperform” rating on shares of Rivian Automotive in a report on Monday, December 15th. DA Davidson downgraded Rivian Automotive from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $15.00 to $14.00 in a research report on Tuesday, February 17th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Rivian Automotive in a research report on Monday, February 9th. Nine investment 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 data from MarketBeat, Rivian Automotive currently has a consensus rating of “Hold” and a consensus target price of $17.86.

Read Our Latest Stock Report on RIVN

Key Headlines Impacting Rivian Automotive

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in Rivian Automotive by 15.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,849,818 shares of the electric vehicle automaker’s stock worth $80,376,000 after purchasing an additional 799,030 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Rivian Automotive in the second quarter valued at about $1,324,000. Farther Finance Advisors LLC raised its position in shares of Rivian Automotive by 227.0% during the third quarter. Farther Finance Advisors LLC now owns 117,096 shares of the electric vehicle automaker’s stock worth $1,719,000 after acquiring an additional 81,291 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Rivian Automotive by 244.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 1,624,707 shares of the electric vehicle automaker’s stock valued at $23,851,000 after acquiring an additional 1,152,551 shares during the last quarter. Finally, Tableaux LLC acquired a new stake in Rivian Automotive during the 2nd quarter valued at approximately $3,435,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Company Profile

(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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Insider Buying and Selling by Quarter for Rivian Automotive (NASDAQ:RIVN)

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