EMC Capital Management Has $44,000 Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

EMC Capital Management raised its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 50.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the electric vehicle automaker’s stock after acquiring an additional 1,000 shares during the quarter. EMC Capital Management’s holdings in Rivian Automotive were worth $44,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC acquired a new stake in Rivian Automotive in the first quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its stake in Rivian Automotive by 118.8% in the first quarter. EverSource Wealth Advisors LLC now owns 1,626 shares of the electric vehicle automaker’s stock valued at $25,000 after acquiring an additional 883 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Rivian Automotive by 89.3% in the first quarter. Manchester Capital Management LLC now owns 1,687 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 796 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter worth about $30,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Rivian Automotive by 69.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,659 shares of the electric vehicle automaker’s stock worth $31,000 after buying an additional 680 shares during the last quarter. Institutional investors and hedge funds own 62.79% of the company’s stock.

Rivian Automotive Price Performance

RIVN stock opened at $23.53 on Wednesday. The company has a quick ratio of 4.71, a current ratio of 5.66 and a debt-to-equity ratio of 0.23. Rivian Automotive, Inc. has a 12 month low of $11.68 and a 12 month high of $40.86. The firm has a market cap of $22.31 billion, a P/E ratio of -3.64 and a beta of 2.13. The company’s 50-day moving average price is $23.57 and its two-hundred day moving average price is $17.56.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Tuesday, August 8th. The electric vehicle automaker reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.34. Rivian Automotive had a negative net margin of 200.97% and a negative return on equity of 38.91%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm earned ($1.89) EPS. The business’s quarterly revenue was up 208.0% compared to the same quarter last year. On average, analysts anticipate that Rivian Automotive, Inc. will post -5.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RIVN. UBS Group began coverage on shares of Rivian Automotive in a research note on Tuesday. They set a “neutral” rating and a $26.00 target price for the company. Cantor Fitzgerald cut shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $27.00 to $29.00 in a research note on Tuesday, August 1st. Royal Bank of Canada raised their target price on shares of Rivian Automotive from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 9th. Mizuho raised their target price on shares of Rivian Automotive from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Canaccord Genuity Group raised their price target on shares of Rivian Automotive from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.95.

Rivian Automotive Profile

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