Rivian Automotive Sees Unusually Large Options Volume (NASDAQ:RIVN)

Rivian Automotive, Inc. (NASDAQ:RIVN) was the target of some unusual options trading activity on Monday. Investors acquired 237,080 call options on the company. This represents an increase of 40% compared to the average daily volume of 169,320 call options.

Analyst Upgrades and Downgrades

RIVN has been the subject of several recent research reports. The Goldman Sachs Group raised their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Royal Bank of Canada decreased their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Stifel Nicolaus cut their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of Rivian Automotive in a report on Friday, November 8th. Finally, Piper Sandler cut their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Rivian Automotive has a consensus rating of “Hold” and a consensus price target of $15.83.

Rivian Automotive Price Performance

Shares of RIVN opened at $15.34 on Tuesday. The firm has a fifty day moving average price of $11.18 and a 200 day moving average price of $12.71. The stock has a market cap of $15.66 billion, a PE ratio of -2.74 and a beta of 2.12. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $24.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Insider Buying and Selling at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the transaction, the chief financial officer now owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,403 shares of company stock worth $3,013,489 over the last three months. Insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

Institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive during the 3rd quarter worth approximately $28,000. GHP Investment Advisors Inc. grew its position in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares during the last quarter. American Capital Advisory LLC increased its holdings in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Hantz Financial Services Inc. raised its position in Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Rivian Automotive during the 2nd quarter worth $37,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.