Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Average Rating of “Hold” from Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been given an average rating of “Hold” by the twenty-six analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $14.17.

Several equities analysts have recently weighed in on the company. Piper Sandler cut Rivian Automotive from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $13.00 in a report on Thursday, March 20th. Needham & Company LLC boosted their price target on Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. UBS Group dropped their price objective on Rivian Automotive from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th.

Rivian Automotive Trading Up 1.0 %

NASDAQ RIVN opened at $11.60 on Monday. Rivian Automotive has a 52 week low of $8.32 and a 52 week high of $18.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock’s 50 day moving average price is $11.89 and its two-hundred day moving average price is $12.09. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of -2.46 and a beta of 1.89.

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

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $11.82, for a total transaction of $844,290.78. Following the sale, the chief executive officer now directly owns 853,011 shares of the company’s stock, valued at $10,082,590.02. This represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock valued at $2,237,044 in the last quarter. Company insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently made changes to their positions in RIVN. Tandem Financial LLC bought a new position in Rivian Automotive in the fourth quarter valued at approximately $25,000. PFS Partners LLC boosted its holdings in shares of Rivian Automotive by 1,882.0% in the 1st quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,882 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in shares of Rivian Automotive in the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive during the 3rd quarter worth $28,000. Finally, Orion Capital Management LLC bought a new stake in shares of Rivian Automotive during the 4th quarter worth $34,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.