Rivian Automotive, Inc. (NASDAQ:RIVN – Get Free Report) CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $14.97, for a total value of $1,069,292.13. Following the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at $13,618,074.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Rivian Automotive Trading Up 2.4 %
Rivian Automotive stock opened at $16.76 on Friday. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $28.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71. The firm has a market capitalization of $16.68 billion, a PE ratio of -2.90 and a beta of 2.08. The business’s 50-day simple moving average is $11.79 and its 200-day simple moving average is $13.07.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last issued its quarterly earnings results 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). Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Equities research analysts forecast that Rivian Automotive, Inc. will post -4.87 earnings per share for the current year.
Analyst Ratings Changes
Check Out Our Latest Stock Report on RIVN
Hedge Funds Weigh In On Rivian Automotive
Several large investors have recently bought and sold shares of the stock. Lido Advisors LLC bought a new position in shares of Rivian Automotive during the 3rd quarter worth about $258,000. GSA Capital Partners LLP acquired a new position in Rivian Automotive in the 3rd quarter valued at approximately $844,000. Morgan Stanley raised its holdings in Rivian Automotive by 14.0% in the 3rd quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock valued at $235,409,000 after acquiring an additional 1,193,650 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Rivian Automotive by 15.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 270,141 shares of the electric vehicle automaker’s stock worth $6,559,000 after purchasing an additional 36,625 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Rivian Automotive by 52.0% during the 3rd quarter. Trust Co. of Vermont now owns 4,385 shares of the electric vehicle automaker’s stock worth $106,000 after purchasing an additional 1,500 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.
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.
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