Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $14.33 Consensus Price Target from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has been given a consensus recommendation of “Hold” by the twenty-seven analysts that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.33.

RIVN has been the topic of several research analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $16.00 price target on shares of Rivian Automotive in a research note on Wednesday, May 14th. Cantor Fitzgerald reiterated a “neutral” rating and set a $15.00 price target on shares of Rivian Automotive in a research note on Wednesday, May 7th. TD Cowen initiated coverage on Rivian Automotive in a research note on Friday, March 7th. They set a “hold” rating and a $12.70 price target on the stock. Piper Sandler boosted their price target on Rivian Automotive from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. Finally, Wedbush dropped their price target on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th.

Rivian Automotive Stock Up 1.6%

Rivian Automotive stock opened at $14.00 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of -2.97 and a beta of 1.86. Rivian Automotive has a 1-year low of $9.50 and a 1-year high of $18.86. The business has a fifty day moving average price of $13.41 and a 200-day moving average price of $13.01.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.23. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $981.52 million. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.48) EPS. Equities research analysts forecast that Rivian Automotive will post -3.2 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $11.82, for a total transaction of $844,290.78. Following the completion of the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $10,082,590.02. The trade was a 7.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 9,937 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total value of $149,055.00. Following the sale, the chief financial officer now owns 851,637 shares of the company’s stock, valued at approximately $12,774,555. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 384,265 shares of company stock worth $5,201,750 in the last 90 days. Corporate insiders own 2.16% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Several large investors have recently bought and sold shares of the company. Modern Wealth Management LLC purchased a new stake in Rivian Automotive during the 1st quarter worth approximately $135,000. Strs Ohio purchased a new stake in shares of Rivian Automotive in the first quarter valued at approximately $1,180,000. GK Wealth Management LLC purchased a new stake in shares of Rivian Automotive in the first quarter valued at approximately $150,000. Geneos Wealth Management Inc. grew its position in shares of Rivian Automotive by 57.1% in the first quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock valued at $64,000 after purchasing an additional 1,856 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its position in shares of Rivian Automotive by 9.0% in the first quarter. Belpointe Asset Management LLC now owns 19,225 shares of the electric vehicle automaker’s stock valued at $239,000 after purchasing an additional 1,581 shares in the last quarter. 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.