Rivian Automotive (NASDAQ:RIVN) Rating Reiterated by Deutsche Bank Aktiengesellschaft

Rivian Automotive (NASDAQ:RIVN)‘s stock had its “hold” rating reissued by equities research analysts at Deutsche Bank Aktiengesellschaft in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $15.00 price target on the electric vehicle automaker’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 42.31% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Truist Financial reissued a “hold” rating and set a $11.00 price objective (down previously from $26.00) on shares of Rivian Automotive in a research note on Monday, February 26th. Bank of America reduced their target price on Rivian Automotive from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. DA Davidson reduced their target price on Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Stifel Nicolaus reduced their target price on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Finally, Mizuho restated a “neutral” rating and issued a $12.00 target price on shares of Rivian Automotive in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.91.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $10.54 on Tuesday. The stock’s fifty day moving average is $13.01 and its two-hundred day moving average is $16.98. The firm has a market capitalization of $10.30 billion, a P/E ratio of -1.84 and a beta of 1.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. Rivian Automotive has a fifty-two week low of $10.05 and a fifty-two week high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. On average, research analysts anticipate that Rivian Automotive will post -4.79 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In other news, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the transaction, the insider now directly owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the transaction, the insider now directly owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,306 shares of company stock valued at $717,274. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

A number of large investors have recently made changes to their positions in RIVN. Price T Rowe Associates Inc. MD boosted its position in shares of Rivian Automotive by 35.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after purchasing an additional 25,550,489 shares during the period. Moneta Group Investment Advisors LLC purchased a new stake in Rivian Automotive during the 4th quarter valued at approximately $228,175,000. Norges Bank purchased a new stake in Rivian Automotive during the 4th quarter valued at approximately $129,427,000. State Street Corp raised its stake in Rivian Automotive by 145.5% during the 3rd quarter. State Street Corp now owns 9,064,249 shares of the electric vehicle automaker’s stock valued at $298,304,000 after acquiring an additional 5,371,852 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Rivian Automotive by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock valued at $1,602,629,000 after acquiring an additional 4,467,881 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

About Rivian Automotive

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.