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

Rivian Automotive, Inc. (NASDAQ:RIVN) has been given an average rating of “Hold” by the twenty-seven analysts that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.3391.

A number of equities analysts have issued reports on RIVN shares. Morgan Stanley cut their price objective on shares of Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Rivian Automotive in a report on Wednesday, October 8th. Wall Street Zen raised shares of Rivian Automotive from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research upgraded shares of Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Stifel Nicolaus lifted their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, November 17th.

Rivian Automotive Trading Up 4.3%

Shares of Rivian Automotive stock opened at $16.88 on Tuesday. The company has a market capitalization of $20.69 billion, a P/E ratio of -5.43 and a beta of 1.81. The stock has a fifty day simple moving average of $14.45 and a 200 day simple moving average of $13.94. Rivian Automotive has a 12-month low of $10.36 and a 12-month high of $18.13. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 17,450 shares of Rivian Automotive stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $15.11, for a total transaction of $263,669.50. Following the sale, the chief executive officer directly owned 1,185,009 shares in the company, valued at approximately $17,905,485.99. This trade represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 104,700 shares of company stock worth $1,621,280 over the last three months. Company insiders own 2.16% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Large investors have recently made changes to their positions in the business. Prospera Financial Services Inc raised its stake in shares of Rivian Automotive by 5.2% during the 3rd quarter. Prospera Financial Services Inc now owns 15,803 shares of the electric vehicle automaker’s stock worth $232,000 after purchasing an additional 775 shares during the period. Siemens Fonds Invest GmbH increased its holdings in Rivian Automotive by 7.7% during the third quarter. Siemens Fonds Invest GmbH now owns 10,874 shares of the electric vehicle automaker’s stock worth $160,000 after buying an additional 780 shares during the last quarter. First National Trust Co increased its holdings in Rivian Automotive by 5.3% during the first quarter. First National Trust Co now owns 16,000 shares of the electric vehicle automaker’s stock worth $199,000 after buying an additional 800 shares during the last quarter. Equitable Holdings Inc. raised its position in Rivian Automotive by 5.8% in the third quarter. Equitable Holdings Inc. now owns 14,699 shares of the electric vehicle automaker’s stock worth $216,000 after acquiring an additional 803 shares during the period. Finally, TD Asset Management Inc raised its position in Rivian Automotive by 1.2% in the second quarter. TD Asset Management Inc now owns 75,841 shares of the electric vehicle automaker’s stock worth $1,042,000 after acquiring an additional 870 shares during the period. 66.25% of the stock is 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.