Olympiad Research LP Makes New Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Olympiad Research LP purchased a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 37,557 shares of the electric vehicle automaker’s stock, valued at approximately $421,000.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in shares of Rivian Automotive by 1.7% in the second quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock valued at $492,000 after acquiring an additional 604 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Rivian Automotive by 30.7% during the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after acquiring an additional 670 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Rivian Automotive by 28.0% during the second quarter. GAMMA Investing LLC now owns 3,470 shares of the electric vehicle automaker’s stock worth $47,000 after acquiring an additional 760 shares during the period. Certuity LLC boosted its holdings in shares of Rivian Automotive by 8.1% during the second quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock worth $145,000 after acquiring an additional 815 shares during the period. Finally, Sanders Morris Harris LLC boosted its holdings in shares of Rivian Automotive by 8.9% during the second quarter. Sanders Morris Harris LLC now owns 10,105 shares of the electric vehicle automaker’s stock worth $136,000 after acquiring an additional 823 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Stock Up 1.8 %

Shares of NASDAQ:RIVN opened at $9.88 on Thursday. The firm has a fifty day moving average price of $11.51 and a two-hundred day moving average price of $12.32. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.61. The company has a market cap of $9.96 billion, a price-to-earnings ratio of -1.63 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Analysts anticipate that Rivian Automotive, Inc. will post -4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RIVN shares. Guggenheim reduced their price objective on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $19.00 target price on shares of Rivian Automotive in a research note on Monday, September 30th. Morgan Stanley downgraded shares of Rivian Automotive from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $16.00 to $13.00 in a report on Wednesday, September 25th. Canaccord Genuity Group decreased their price objective on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 7th. Finally, The Goldman Sachs Group decreased their price objective on Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.95.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the sale, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the sale, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total transaction of $969,996.12. Following the sale, the chief executive officer now directly owns 886,526 shares of the company’s stock, valued at $10,319,162.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 169,876 shares of company stock valued at $2,153,551 in the last three months. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Company Profile

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.