Rivian Automotive (NASDAQ:RIVN) Price Target Increased to $14.00 by Analysts at The Goldman Sachs Group

Rivian Automotive (NASDAQ:RIVN) had its price target lifted by The Goldman Sachs Group from $11.00 to $14.00 in a report published on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the electric vehicle automaker’s stock.

Several other brokerages have also recently commented on RIVN. Piper Sandler reissued an overweight rating and set a $21.00 price target on shares of Rivian Automotive in a research report on Wednesday, June 26th. Needham & Company LLC boosted their price target on shares of Rivian Automotive from $13.00 to $20.00 and gave the stock a buy rating in a research report on Friday. Wedbush boosted their price target on shares of Rivian Automotive from $15.00 to $20.00 and gave the stock an outperform rating in a research report on Wednesday, June 26th. Wells Fargo & Company cut their price target on shares of Rivian Automotive from $14.00 to $10.00 and set an equal weight rating on the stock in a research report on Wednesday, May 8th. Finally, Jefferies Financial Group initiated coverage on shares of Rivian Automotive in a research report on Thursday, March 7th. They set a buy rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Rivian Automotive currently has a consensus rating of Moderate Buy and an average target price of $19.04.

Rivian Automotive Trading Up 3.7 %

Shares of NASDAQ RIVN opened at $13.92 on Monday. The company’s fifty day moving average is $10.78 and its 200-day moving average is $13.38. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of -2.41 and a beta of 2.07. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $28.06. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.55.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. Equities research analysts predict that Rivian Automotive will post -4.93 EPS for the current year.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the transaction, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $10,234,023.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Rivian Automotive

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new position in Rivian Automotive in the 3rd quarter valued at approximately $27,000. Bear Mountain Capital Inc. acquired a new position in Rivian Automotive in the 4th quarter valued at approximately $26,000. Principal Securities Inc. acquired a new position in Rivian Automotive in the 4th quarter valued at approximately $33,000. Arlington Trust Co LLC acquired a new position in Rivian Automotive in the 4th quarter valued at approximately $35,000. Finally, Fairman Group LLC acquired a new position in Rivian Automotive in the 4th quarter valued at approximately $36,000. Institutional investors own 66.25% of the company’s stock.

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.