Rivian Automotive (NASDAQ:RIVN) Trading Up 8.1% – Here’s What Happened

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price rose 8.1% during mid-day trading on Monday . The company traded as high as $20.20 and last traded at $20.14. 38,932,043 shares changed hands during trading, an increase of 28% from the average daily volume of 30,511,127 shares. The stock had previously closed at $18.63.

Key Stories Impacting Rivian Automotive

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

• Positive Sentiment: BNP Paribas Exane raised its price target on Rivian to $24 from $22 and kept an outperform rating, signaling confidence that the stock could recover as execution improves.
• Positive Sentiment: Rivian’s recent delivery report showed stronger-than-expected vehicle deliveries, and the company lifted its full-year delivery guidance, reinforcing optimism around demand and the upcoming R2 launch.
• Neutral Sentiment: Several articles highlighted renewed attention on Rivian’s EV growth story and the R2 SUV, which could support the stock if the company keeps momentum in deliveries and product development.
• Neutral Sentiment: Analysts’ consensus remains around Hold, suggesting Wall Street is split between Rivian’s growth potential and the risks tied to continued capital needs.
• Negative Sentiment: Rivian priced a 75 million-share public offering at $15.50 per share, raising about $1.2 billion before expenses, which sparked fears of shareholder dilution and weighed heavily on the stock.
• Negative Sentiment: The offering also reinforced concerns that Rivian is still burning cash and needs repeated access to capital to fund expansion, pay down debt, and support future manufacturing growth.
• Negative Sentiment: Coverage from multiple outlets described the selloff as a reaction to dilution and cash-trouble worries, suggesting sentiment may stay weak until investors see stronger profitability and operating leverage.

Analyst Ratings Changes

Several analysts have recently commented on the stock. DA Davidson raised their price objective on shares of Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Cantor Fitzgerald reissued a “neutral” rating on shares of Rivian Automotive in a report on Monday, June 15th. Benchmark restated a “buy” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research report on Friday, May 1st. Leerink Partners reissued an “outperform” rating on shares of Rivian Automotive in a report on Thursday, March 12th. Finally, Tigress Financial restated a “buy” rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, April 10th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Rivian Automotive presently has a consensus rating of “Hold” and a consensus price target of $18.76.

Rivian Automotive Trading Up 1.0%

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 company has a 50-day moving average of $15.71 and a 200 day moving average of $16.29. The company has a market cap of $20.67 billion, a PE ratio of -5.71 and a beta of 1.60.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.05. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.Rivian Automotive’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.48) EPS. Analysts predict that Rivian Automotive, Inc. will post -3.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $15.00, for a total transaction of $522,270.00. Following the completion of the sale, the chief executive officer owned 922,286 shares of the company’s stock, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.00, for a total value of $128,368.00. Following the completion of the transaction, the chief financial officer directly owned 887,007 shares of the company’s stock, valued at approximately $14,192,112. This trade represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 80,076 shares of company stock worth $1,256,286 over the last three months. Corporate insiders own 1.48% of the company’s stock.

Institutional Trading of Rivian Automotive

Several institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Rivian Automotive in the 4th quarter worth approximately $220,323,000. Renaissance Technologies LLC raised its position in Rivian Automotive by 32.4% in the fourth quarter. Renaissance Technologies LLC now owns 16,397,496 shares of the electric vehicle automaker’s stock valued at $323,195,000 after purchasing an additional 4,012,386 shares during the period. Capital International Investors lifted its stake in Rivian Automotive by 13.2% during the fourth quarter. Capital International Investors now owns 20,769,844 shares of the electric vehicle automaker’s stock worth $409,374,000 after purchasing an additional 2,418,717 shares in the last quarter. AQR Capital Management LLC lifted its stake in Rivian Automotive by 496.6% during the second quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker’s stock worth $31,490,000 after purchasing an additional 1,918,852 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its position in shares of Rivian Automotive by 1,353.6% during the second quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker’s stock worth $28,281,000 after buying an additional 1,916,686 shares during the period. Hedge funds and other institutional investors own 66.25% of the company’s stock.

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.