Rivian Automotive (NASDAQ:RIVN) Rating Increased to Neutral at UBS Group

UBS Group upgraded shares of Rivian Automotive (NASDAQ:RIVN) from a sell rating to a neutral rating in a report released on Tuesday morning, Marketbeat reports. They currently have $9.00 price objective on the electric vehicle automaker’s stock.

Several other research analysts have also recently commented on the company. Needham & Company LLC lowered 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. Truist Financial reissued a hold rating and set a $11.00 target price on shares of Rivian Automotive in a research note on Friday, April 12th. Evercore ISI lowered their target price on Rivian Automotive from $35.00 to $25.00 and set an outperform rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company lowered their target price on Rivian Automotive from $18.00 to $14.00 and set an equal weight rating for the company in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus lowered their price objective on Rivian Automotive from $23.00 to $18.00 and set a buy rating for the company in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Rivian Automotive presently has an average rating of Moderate Buy and a consensus price target of $19.61.

Rivian Automotive Trading Down 2.3 %

Shares of NASDAQ RIVN opened at $8.63 on Tuesday. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $28.06. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $11.54 and a 200-day simple moving average of $15.93. The stock has a market capitalization of $8.44 billion, a PE ratio of -1.50 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.28 billion. On average, equities analysts forecast that Rivian Automotive will post -4.8 earnings per share for the current year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the sale, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the transaction, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock valued at $717,274 in the last ninety days. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eaton Vance Management increased its position in Rivian Automotive by 6.8% during the 1st quarter. Eaton Vance Management now owns 7,843 shares of the electric vehicle automaker’s stock worth $394,000 after purchasing an additional 497 shares during the period. Gould Capital LLC grew its holdings in shares of Rivian Automotive by 32.6% in the 2nd quarter. Gould Capital LLC now owns 2,035 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 500 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Rivian Automotive by 9.1% in the 1st quarter. D.A. Davidson & CO. now owns 6,176 shares of the electric vehicle automaker’s stock worth $310,000 after acquiring an additional 515 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Rivian Automotive by 1.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 35,904 shares of the electric vehicle automaker’s stock worth $662,000 after acquiring an additional 577 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Rivian Automotive by 1,329.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker’s stock worth $32,000 after acquiring an additional 585 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

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.