Green Alpha Advisors LLC Has $608,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Green Alpha Advisors LLC lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 10.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,503 shares of the electric vehicle automaker’s stock after acquiring an additional 3,320 shares during the period. Green Alpha Advisors LLC’s holdings in Rivian Automotive were worth $608,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RIVN. BlackRock Inc. increased its stake in Rivian Automotive by 2.9% during the 1st quarter. BlackRock Inc. now owns 50,903,971 shares of the electric vehicle automaker’s stock valued at $787,993,000 after purchasing an additional 1,443,514 shares in the last quarter. FMR LLC increased its stake in Rivian Automotive by 32.8% during the 1st quarter. FMR LLC now owns 34,126,728 shares of the electric vehicle automaker’s stock valued at $528,282,000 after purchasing an additional 8,427,507 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new stake in Rivian Automotive during the 4th quarter valued at $228,175,000. Vanguard Group Inc. grew its stake in shares of Rivian Automotive by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,777,340 shares of the electric vehicle automaker’s stock worth $491,214,000 after acquiring an additional 221,383 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Rivian Automotive by 3.0% in the 1st quarter. State Street Corp now owns 9,547,650 shares of the electric vehicle automaker’s stock worth $147,795,000 after acquiring an additional 277,742 shares in the last quarter. Institutional investors and hedge funds own 62.79% of the company’s stock.

Rivian Automotive Price Performance

RIVN stock opened at $24.11 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.71 and a current ratio of 5.66. The company’s 50 day moving average is $23.67 and its 200 day moving average is $17.65. Rivian Automotive, Inc. has a 1-year low of $11.68 and a 1-year high of $40.86.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RIVN. Royal Bank of Canada upped 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Rivian Automotive from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Canaccord Genuity Group upped their target price on shares of Rivian Automotive from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Piper Sandler upped their target price on shares of Rivian Automotive from $14.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Finally, Barclays boosted their price target on shares of Rivian Automotive from $22.00 to $30.00 in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.95.

About Rivian Automotive

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.