Mizuho Markets Americas LLC Has $10.28 Million Stock Position in Rivian Automotive, Inc. $RIVN

Mizuho Markets Americas LLC increased its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 16.1% during the first quarter, Holdings Channel reports. The firm owned 683,024 shares of the electric vehicle automaker’s stock after acquiring an additional 94,840 shares during the period. Mizuho Markets Americas LLC’s holdings in Rivian Automotive were worth $10,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIVN. Core Wealth Advisors LLC bought a new stake in Rivian Automotive during the fourth quarter worth about $27,000. SOA Wealth Advisors LLC. increased its holdings in Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock valued at $31,000 after buying an additional 1,395 shares during the period. Zions Bancorporation National Association UT bought a new position in Rivian Automotive in the 4th quarter valued at about $33,000. Glass Jacobson Investment Advisors llc raised its position in shares of Rivian Automotive by 96.3% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock valued at $34,000 after buying an additional 852 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

More Rivian Automotive News

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian remains in focus ahead of its July 30 earnings release, with recent coverage highlighting expectations for higher revenue and earnings versus the prior period. The stock has also shown some recent recovery over the past month, suggesting traders still see a turnaround case. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Longer-term bullish commentary is pointing to Rivian’s improving gross profitability trend and arguing the company has several factors that could support a durable investment case. 3 Big Reasons to Believe in Rivian Stock Long-Term
• Neutral Sentiment: Despite the recent attention, one analysis says Rivian does not currently have the key setup that typically leads to an earnings beat, which keeps expectations guarded heading into the report. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
• Negative Sentiment: Rivian is being pulled lower along with other EV stocks after Tesla reported a profit miss, which has raised fresh questions about demand, margins, and profitability across the sector. Tesla Slides 8% on Earnings Miss Despite Record Deliveries; Rivian, Lucid Slip
• Negative Sentiment: Broader commentary on the U.S. EV industry has been pessimistic, emphasizing shrinking market enthusiasm and the financial strain on young EV makers like Rivian, which can weigh on sentiment ahead of earnings. This Stock Is Crushing Both Lucid and Rivian in 1 Crucial Way

Analyst Upgrades and Downgrades

RIVN has been the topic of several analyst reports. Weiss Ratings upgraded shares of Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Rivian Automotive in a research report on Wednesday, June 10th. UBS Group upped their target price on Rivian Automotive from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Tigress Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a report on Friday, April 10th. Finally, Jefferies Financial Group lifted their price target on Rivian Automotive from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, Rivian Automotive presently has an average rating of “Hold” and a consensus target price of $18.86.

Insider Activity

In related news, CEO Robert J. Scaringe sold 34,818 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total transaction of $522,270.00. Following the sale, the chief executive officer owned 922,286 shares of the company’s stock, valued at $13,834,290. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the sale, the director owned 110,000 shares in the company, valued at $2,200,000. This represents a 15.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 68,385 shares of company stock worth $1,125,094. Insiders own 1.48% of the company’s stock.

Rivian Automotive Trading Down 4.2%

Shares of Rivian Automotive stock opened at $16.46 on Friday. The firm’s 50 day moving average is $16.28 and its 200 day moving average is $16.01. The firm has a market capitalization of $22.40 billion, a PE ratio of -5.64 and a beta of 1.60. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.05. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.48) earnings per share. Equities research analysts forecast that Rivian Automotive, Inc. will post -3.06 earnings per share for the current fiscal year.

Rivian Automotive Company Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.