Rivian Automotive Sees Unusually High Options Volume (NASDAQ:RIVN)

Rivian Automotive, Inc. (NASDAQ:RIVN) saw some unusual options trading activity on Monday. Traders acquired 191,958 call options on the stock. This represents an increase of approximately 40% compared to the typical volume of 137,283 call options.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Cfra Research raised Rivian Automotive to a “moderate sell” rating in a research report on Thursday, October 2nd. Guggenheim cut Rivian Automotive from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Zacks Research lowered shares of Rivian Automotive from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group lowered their price objective on shares of Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, UBS Group lifted their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $13.75.

Insider Activity at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 17,450 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $14.00, for a total transaction of $244,300.00. Following the sale, the chief executive officer owned 1,316,205 shares in the company, valued at $18,426,870. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 7,247 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $12.28, for a total transaction of $88,993.16. Following the completion of the transaction, the chief financial officer directly owned 789,445 shares of the company’s stock, valued at $9,694,384.60. This represents a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,147 shares of company stock worth $577,593 in the last ninety days. Corporate insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RIVN. Bleakley Financial Group LLC lifted its position in Rivian Automotive by 12.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 21,802 shares of the electric vehicle automaker’s stock worth $320,000 after acquiring an additional 2,451 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Rivian Automotive by 8.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,844 shares of the electric vehicle automaker’s stock worth $189,000 after purchasing an additional 1,054 shares during the last quarter. Stevens Capital Management LP bought a new stake in Rivian Automotive during the 3rd quarter valued at approximately $1,278,000. Rothschild Investment LLC grew its holdings in Rivian Automotive by 8,161.6% in the 3rd quarter. Rothschild Investment LLC now owns 20,241 shares of the electric vehicle automaker’s stock valued at $297,000 after buying an additional 19,996 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Rivian Automotive by 3.3% during the third quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock worth $1,198,967,000 after buying an additional 2,597,310 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Up 8.4%

Shares of NASDAQ:RIVN traded up $1.27 on Monday, reaching $16.50. The company had a trading volume of 64,832,804 shares, compared to its average volume of 37,348,559. The stock has a market capitalization of $20.03 billion, a P/E ratio of -5.27 and a beta of 1.82. The stock has a 50-day moving average price of $13.90 and a 200 day moving average price of $13.70. Rivian Automotive has a twelve month low of $9.55 and a twelve month high of $17.15. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.02. Rivian Automotive had a negative return on equity of 57.33% and a negative net margin of 61.34%.The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company earned ($1.08) EPS. The company’s revenue for the quarter was up 78.3% on a year-over-year basis. On average, equities analysts expect that Rivian Automotive will post -3.2 EPS for the current year.

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.