Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) has earned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts who have updated their coverage on the stock in the last year is $27.74.
A number of research analysts have recently issued reports on RIVN shares. Evercore ISI cut their target price on Rivian Automotive from $35.00 to $25.00 in a research note on Monday, March 6th. Robert W. Baird cut their price objective on shares of Rivian Automotive from $44.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Rivian Automotive from $43.00 to $28.00 in a research report on Thursday, January 19th. Cantor Fitzgerald decreased their price target on shares of Rivian Automotive from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, March 1st. Finally, Morgan Stanley reduced their target price on shares of Rivian Automotive from $26.00 to $24.00 in a research note on Tuesday, April 18th.
Rivian Automotive Stock Performance
Shares of RIVN opened at $12.91 on Monday. The firm has a market capitalization of $11.89 billion, a P/E ratio of -1.82 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.86 and a current ratio of 5.42. The stock has a 50 day moving average price of $13.70 and a two-hundred day moving average price of $19.87. Rivian Automotive has a 52 week low of $11.68 and a 52 week high of $40.86.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last posted its earnings results on Tuesday, May 9th. The electric vehicle automaker reported earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $0.26. The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $661.97 million. Rivian Automotive had a negative return on equity of 37.49% and a negative net margin of 407.24%. The business’s quarterly revenue was up 595.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.43) earnings per share. Equities analysts forecast that Rivian Automotive will post -5.51 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Rivian Automotive news, CAO Jeff Baker sold 2,331 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $18.98, for a total value of $44,242.38. Following the transaction, the chief accounting officer now owns 87,000 shares in the company, valued at $1,651,260. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. In related news, CAO Jeff Baker sold 2,331 shares of the business’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $18.98, for a total transaction of $44,242.38. Following the sale, the chief accounting officer now directly owns 87,000 shares in the company, valued at approximately $1,651,260. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 2,090 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $18.99, for a total value of $39,689.10. Following the transaction, the chief financial officer now directly owns 75,804 shares of the company’s stock, valued at approximately $1,439,517.96. The disclosure for this sale can be found here. Insiders own 2.34% of the company’s stock.
Institutional Investors Weigh In On Rivian Automotive
Large investors have recently made changes to their positions in the stock. The Arizona State Retirement System boosted its position in shares of Rivian Automotive by 2.0% during the 4th quarter. Arizona State Retirement System now owns 86,626 shares of the electric vehicle automaker’s stock worth $1,597,000 after purchasing an additional 1,683 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Rivian Automotive by 89.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 70,300 shares of the electric vehicle automaker’s stock valued at $2,314,000 after purchasing an additional 33,240 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Rivian Automotive by 9.3% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 228,063 shares of the electric vehicle automaker’s stock worth $3,955,000 after buying an additional 19,381 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Rivian Automotive by 442.6% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 162,851 shares of the electric vehicle automaker’s stock worth $5,359,000 after buying an additional 132,838 shares in the last quarter. Finally, Eaton Vance Management purchased a new position in shares of Rivian Automotive in the third quarter worth approximately $2,942,000. 67.97% of the stock is owned by hedge funds and other institutional investors.
Rivian Automotive Company Profile
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides a Rivian Commercial Vehicle platform for electric Delivery Vans with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
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