Rivian Automotive (NASDAQ:RIVN) Stock Price Up 5.7% – What’s Next?

Rivian Automotive, Inc. (NASDAQ:RIVN) rose 5.7% during mid-day trading on Wednesday . The company traded as high as $18.43 and last traded at $18.27. Approximately 51,389,688 shares were traded during trading, an increase of 71% from the average daily volume of 30,039,199 shares. The stock had previously closed at $17.29.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings raised shares of Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Tigress Financial reissued a “buy” rating and set a $25.00 price objective on shares of Rivian Automotive in a report on Friday, April 10th. Wall Street Zen raised shares of Rivian Automotive from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Stifel Nicolaus raised their price objective on shares of Rivian Automotive from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Wells Fargo & Company raised their price objective on shares of Rivian Automotive from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, Rivian Automotive has an average rating of “Hold” and an average price target of $18.57.

Rivian Automotive Trading Down 9.8%

The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. The business’s 50 day moving average price is $15.43 and its 200-day moving average price is $16.33. The firm has a market capitalization of $20.29 billion, a price-to-earnings ratio of -5.60 and a beta of 1.62.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,023 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the sale, the chief financial officer owned 887,007 shares in the company, valued at approximately $14,192,112. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total transaction of $522,270.00. Following the sale, the chief executive officer owned 922,286 shares in the company, valued at approximately $13,834,290. This trade represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 117,790 shares of company stock worth $1,832,466 in the last three months. 1.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds have recently modified their holdings of RIVN. Brighton Jones LLC lifted its stake in shares of 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 purchasing an additional 3,864 shares in the last quarter. AQR Capital Management LLC lifted its holdings in 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 buying an additional 5,590 shares in the last quarter. Empowered Funds LLC lifted its holdings in Rivian Automotive by 10.1% in the 1st quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker’s stock worth $679,000 after buying an additional 4,998 shares in the last quarter. Focus Partners Wealth lifted its holdings in Rivian Automotive by 29.0% in the 1st quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker’s stock worth $803,000 after buying an additional 14,497 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Rivian Automotive by 57.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock worth $64,000 after buying an additional 1,856 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

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.