Rivian Automotive (RIVN) Expected to Announce Quarterly Earnings on Thursday

Rivian Automotive (NASDAQ:RIVN) is expected to be issuing its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.69) per share and revenue of $1.43 billion for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Rivian Automotive Trading Up 2.9 %

Shares of RIVN opened at $14.44 on Wednesday. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $18.85. The company has a market cap of $14.74 billion, a P/E ratio of -2.58 and a beta of 2.04. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $12.52.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total transaction of $491,410.88. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,879,847.36. This trade represents a 3.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 18,501 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the transaction, the chief financial officer now directly owns 351,900 shares of the company’s stock, valued at $5,278,500. This represents a 4.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 359,932 shares of company stock worth $4,926,664 in the last three months. Corporate insiders own 2.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on RIVN shares. Needham & Company LLC reduced their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays raised their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Mizuho reduced their price target on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.13.

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.