Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Rating of “Hold” by Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been assigned an average rating of “Hold” from the twenty-four research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $19.87.

Several research firms recently weighed in on RIVN. JPMorgan Chase & Co. lowered Rivian Automotive from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $11.00 in a research note on Thursday, February 22nd. Needham & Company LLC decreased their target price on Rivian Automotive from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. UBS Group reaffirmed a “sell” rating and set a $8.00 target price (down previously from $24.00) on shares of Rivian Automotive in a research note on Friday, February 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $15.00 target price on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Finally, Robert W. Baird decreased their target price on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd.

Rivian Automotive Trading Down 3.4 %

Shares of Rivian Automotive stock opened at $10.27 on Thursday. Rivian Automotive has a 12-month low of $10.01 and a 12-month high of $28.06. The stock has a market cap of $10.04 billion, a P/E ratio of -1.79 and a beta of 1.88. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $12.50 and its 200-day moving average is $16.57.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Equities research analysts predict that Rivian Automotive will post -4.79 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In other news, insider Kjell Gruner sold 19,935 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the transaction, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the sale, the chief financial officer now directly owns 155,749 shares in the company, valued at approximately $2,523,133.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now owns 407,787 shares in the company, valued at $5,223,751.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,306 shares of company stock valued at $717,274. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently bought and sold shares of RIVN. Stifel Financial Corp lifted its position in shares of Rivian Automotive by 7.3% in the third quarter. Stifel Financial Corp now owns 288,191 shares of the electric vehicle automaker’s stock valued at $6,997,000 after acquiring an additional 19,699 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of Rivian Automotive in the third quarter valued at about $4,473,000. Atria Wealth Solutions Inc. lifted its position in shares of Rivian Automotive by 448.0% in the third quarter. Atria Wealth Solutions Inc. now owns 229,347 shares of the electric vehicle automaker’s stock valued at $5,569,000 after acquiring an additional 187,495 shares in the last quarter. Morgan Stanley lifted its position in shares of Rivian Automotive by 14.0% in the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock valued at $235,409,000 after acquiring an additional 1,193,650 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Rivian Automotive in the third quarter worth about $1,806,000. 66.25% of the stock is currently 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.