AXQ Capital LP Has $143,000 Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

AXQ Capital LP lowered its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 36.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,726 shares of the electric vehicle automaker’s stock after selling 6,280 shares during the period. AXQ Capital LP’s holdings in Rivian Automotive were worth $143,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Tandem Financial LLC bought a new position in Rivian Automotive in the 4th quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new stake in Rivian Automotive in the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive during the 3rd quarter worth about $28,000. Hantz Financial Services Inc. lifted its position in Rivian Automotive by 2,636.4% during 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 period. Finally, Bear Mountain Capital Inc. boosted its stake in shares of Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock valued at $36,000 after purchasing an additional 1,932 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Up 5.1 %

RIVN stock opened at $12.19 on Tuesday. The business has a 50-day moving average of $12.38 and a 200-day moving average of $12.15. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.86. The stock has a market capitalization of $13.78 billion, a P/E ratio of -2.58 and a beta of 2.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,998 shares of company stock valued at $1,744,184. Corporate insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RIVN shares. Truist Financial boosted their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Cantor Fitzgerald downgraded Rivian Automotive from an “overweight” rating to a “neutral” rating and increased their price target for the company from $13.00 to $15.00 in a research note on Friday, February 21st. Piper Sandler cut Rivian Automotive from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $13.00 in a research note on Thursday, March 20th. Cowen began coverage on Rivian Automotive in a research note on Thursday, March 6th. They issued a “hold” rating on the stock. Finally, Mizuho decreased their target price on Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.38.

Rivian Automotive 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.