Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) have been assigned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is 60.20.

RIVN has been the subject of a number of research analyst reports. Wedbush reduced their target price on Rivian Automotive from $45.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. Canaccord Genuity Group reduced their target price on Rivian Automotive from $61.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Royal Bank of Canada reduced their target price on Rivian Automotive from $61.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. Wells Fargo & Company cut their price target on Rivian Automotive from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, November 10th. Finally, Truist Financial initiated coverage on Rivian Automotive in a report on Wednesday, September 28th. They issued a “buy” rating and a $65.00 price target for the company.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 14,235 shares of Rivian Automotive stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of 34.92, for a total value of 497,086.20. Following the completion of the transaction, the chief financial officer now directly owns 81,151 shares in the company, valued at 2,833,792.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Rivian Automotive news, CAO Jeff Baker sold 1,689 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of 34.38, for a total value of 58,067.82. Following the sale, the chief accounting officer now directly owns 89,331 shares in the company, valued at 3,071,199.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 14,235 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total value of 497,086.20. Following the completion of the sale, the chief financial officer now owns 81,151 shares in the company, valued at 2,833,792.92. The disclosure for this sale can be found here. 2.34% of the stock is currently owned by company insiders.

Institutional Trading of Rivian Automotive

A number of hedge funds and other institutional investors have recently bought and sold shares of RIVN. TCTC Holdings LLC acquired a new stake in Rivian Automotive in the first quarter valued at $25,000. Bartlett & Co. LLC increased its position in shares of Rivian Automotive by 104.2% during the second quarter. Bartlett & Co. LLC now owns 980 shares of the electric vehicle automaker’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Rivian Automotive during the second quarter worth about $25,000. Venture Visionary Partners LLC acquired a new stake in shares of Rivian Automotive during the second quarter worth about $27,000. Finally, Seeyond acquired a new stake in shares of Rivian Automotive during the second quarter worth about $27,000. 62.09% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at 30.34 on Monday. The business has a 50 day simple moving average of 33.74 and a two-hundred day simple moving average of 31.91. Rivian Automotive has a 12 month low of 19.25 and a 12 month high of 139.90. The stock has a market capitalization of $27.94 billion and a P/E ratio of -2.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.84 and a quick ratio of 6.39.

About Rivian Automotive

(Get Rating)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

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Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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