Rivian Automotive (NASDAQ:RIVN) Trading Up 2.3%

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price was up 2.3% on Friday . The stock traded as high as $10.41 and last traded at $10.06. Approximately 22,669,840 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 41,686,633 shares. The stock had previously closed at $9.83.

Analysts Set New Price Targets

A number of brokerages have weighed in on RIVN. Mizuho reiterated a “neutral” rating and set a $12.00 price target on shares of Rivian Automotive in a research report on Monday, March 25th. Truist Financial reissued a “hold” rating and set a $10.00 target price (down previously from $11.00) on shares of Rivian Automotive in a research report on Thursday. Piper Sandler upgraded shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $15.00 to $21.00 in a research note on Friday, March 15th. Morgan Stanley lowered their target price on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group dropped their price target on Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Rivian Automotive Trading Up 2.4 %

The company has a 50 day moving average of $10.40 and a 200-day moving average of $15.15. 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 (NASDAQ:RIVN) last posted its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. As a group, analysts predict that Rivian Automotive, Inc. will post -4.77 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 2,946 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now directly owns 155,749 shares in the company, valued at approximately $2,523,133.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the sale, the chief financial officer now owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at $690,829.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,306 shares of company stock worth $717,274. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bear Mountain Capital Inc. acquired a new stake in shares of Rivian Automotive in the 4th quarter worth approximately $26,000. Ancora Advisors LLC bought a new stake in shares of Rivian Automotive in the 3rd quarter worth $27,000. First Horizon Advisors Inc. boosted its stake in Rivian Automotive by 1,537.0% during the third quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock valued at $32,000 after buying an additional 1,245 shares in the last quarter. Principal Securities Inc. acquired a new position in Rivian Automotive during the fourth quarter worth about $33,000. Finally, Benjamin Edwards Inc. acquired a new stake in Rivian Automotive in the 1st quarter valued at about $33,000. 66.25% of the stock is currently owned by institutional investors.

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.