Rivian Automotive (NASDAQ:RIVN) Stock Price Up 3.4%

Rivian Automotive, Inc. (NASDAQ:RIVN) traded up 3.4% during trading on Tuesday . The stock traded as high as $9.13 and last traded at $9.09. 11,523,041 shares changed hands during trading, a decline of 73% from the average session volume of 42,559,816 shares. The stock had previously closed at $8.79.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RIVN. Stifel Nicolaus lowered their price target on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. UBS Group raised shares of Rivian Automotive from a “sell” rating to a “neutral” rating and set a $9.00 price target on the stock in a research report on Tuesday, April 16th. Piper Sandler upgraded shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $15.00 to $21.00 in a research note on Friday, March 15th. Barclays cut their target price on shares of Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Bank of America lowered their price target on Rivian Automotive from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.61.

Rivian Automotive Trading Up 4.1 %

The stock has a market capitalization of $8.94 billion, a P/E ratio of -1.58 and a beta of 1.88. 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 business has a 50-day moving average price of $11.39 and a two-hundred day moving average price of $15.77.

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

Insider Buying and Selling

In other news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction 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 transaction, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Kjell Gruner sold 19,935 shares of the stock in a transaction dated Friday, March 8th. The shares were 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 $5,223,751.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the sale, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,306 shares of company stock worth $717,274. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dynamic Advisor Solutions LLC grew its position in Rivian Automotive by 17.9% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,239 shares of the electric vehicle automaker’s stock worth $297,000 after acquiring an additional 1,861 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of Rivian Automotive by 150.2% during the third quarter. AE Wealth Management LLC now owns 49,084 shares of the electric vehicle automaker’s stock worth $1,192,000 after purchasing an additional 29,464 shares during the last quarter. DnB Asset Management AS increased its stake in shares of Rivian Automotive by 13.9% in the third quarter. DnB Asset Management AS now owns 99,666 shares of the electric vehicle automaker’s stock valued at $2,420,000 after buying an additional 12,198 shares during the period. Friedenthal Financial bought a new position in Rivian Automotive in the 3rd quarter valued at approximately $773,000. Finally, Private Trust Co. NA grew its holdings in Rivian Automotive by 2,117.6% during the 3rd quarter. Private Trust Co. NA now owns 1,885 shares of the electric vehicle automaker’s stock worth $46,000 after acquiring an additional 1,800 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.