Rivian Automotive (NASDAQ:RIVN) Trading Up 2.3% – Here’s What Happened

Rivian Automotive, Inc. (NASDAQ:RIVN) shares were up 2.3% on Wednesday . The stock traded as high as $14.68 and last traded at $14.27. Approximately 29,160,274 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 29,200,748 shares. The stock had previously closed at $13.95.

Trending Headlines about Rivian Automotive

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

• Positive Sentiment: Rivian’s spinout Mind Robotics raised $400 million at a reported $3.4 billion valuation, which may support the view that Rivian has value beyond EVs and could strengthen investor interest in its broader technology and automation efforts. Article: Mind Robotics Funding Recasts Rivian Story Beyond EVs And Into Robotics
• Neutral Sentiment: Several recent articles noted that Rivian is drawing investor attention, suggesting the market is closely watching upcoming developments such as the R2 launch and broader operating trends. Article: Rivian Automotive, Inc. (RIVN) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: One report said Rivian faces its biggest short-term threat from tougher macro conditions that could complicate the launch and ramp of the R2, keeping sentiment cautious on execution risk. Article: Rivian Faces Its Biggest Short-Term Threat
• Negative Sentiment: Broader EV and valuation commentary remains a headwind for the sector, with articles emphasizing concern over unproven business models and investor caution around stocks like Rivian. Article: 3 Stocks Under $50 That Concern Us

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RIVN shares. Wedbush reissued an “outperform” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research report on Friday, February 13th. Tigress Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a research report on Friday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Rivian Automotive in a research report on Friday, May 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Rivian Automotive in a research report on Monday, April 6th. Finally, Wall Street Zen raised Rivian Automotive from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Twelve 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.com, the company presently has a consensus rating of “Hold” and an average target price of $18.57.

Rivian Automotive Stock Performance

The stock has a market capitalization of $17.11 billion, a P/E ratio of -4.72 and a beta of 1.64. The firm has a 50-day moving average of $15.57 and a 200 day moving average of $16.29. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.14. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.Rivian Automotive’s quarterly revenue was down 25.8% compared to the same quarter last year. During the same period last year, the business earned ($0.70) earnings per share. Research analysts anticipate that Rivian Automotive, Inc. will post -3.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 27,133 shares of Rivian Automotive stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $455,834.40. Following the completion of the transaction, the chief financial officer directly owned 680,836 shares of the company’s stock, valued at approximately $11,438,044.80. This trade represents a 3.83% 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, CEO Robert J. Scaringe sold 34,900 shares of Rivian Automotive stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.80, for a total value of $586,320.00. Following the transaction, the chief executive officer directly owned 1,044,731 shares of the company’s stock, valued at approximately $17,551,480.80. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 148,888 shares of company stock valued at $2,411,276. Company insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp grew its position in Rivian Automotive by 35.5% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 32,542 shares of the electric vehicle automaker’s stock worth $490,000 after acquiring an additional 8,528 shares during the last quarter. Aristides Capital LLC bought a new stake in Rivian Automotive during the 1st quarter worth approximately $1,154,000. Inceptionr LLC grew its position in Rivian Automotive by 37.0% during the 1st quarter. Inceptionr LLC now owns 25,195 shares of the electric vehicle automaker’s stock worth $379,000 after acquiring an additional 6,799 shares during the last quarter. Mizuho Markets Americas LLC grew its position in Rivian Automotive by 16.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 683,024 shares of the electric vehicle automaker’s stock worth $10,280,000 after acquiring an additional 94,840 shares during the last quarter. Finally, Lido Advisors LLC grew its position in Rivian Automotive by 38.0% during the 1st quarter. Lido Advisors LLC now owns 25,774 shares of the electric vehicle automaker’s stock worth $388,000 after acquiring an additional 7,101 shares during 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.