Deutsche Bank Aktiengesellschaft Reiterates “Hold” Rating for Rivian Automotive (NASDAQ:RIVN)

Rivian Automotive (NASDAQ:RIVN)‘s stock had its “hold” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $14.00 price target on the electric vehicle automaker’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 0.50% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Guggenheim initiated coverage on Rivian Automotive in a research report on Tuesday, June 25th. They issued a “buy” rating and a $18.00 target price for the company. Mizuho upped their price target on Rivian Automotive from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Morgan Stanley lifted their price objective on shares of Rivian Automotive from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group boosted their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $21.00 price target on shares of Rivian Automotive in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.09.

Rivian Automotive Trading Up 5.3 %

Shares of RIVN stock opened at $13.93 on Tuesday. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. Rivian Automotive has a fifty-two week low of $8.26 and a fifty-two week high of $24.87. The firm’s 50 day moving average price is $14.91 and its two-hundred day moving average price is $12.23. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of -2.41 and a beta of 2.06.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. On average, analysts anticipate that Rivian Automotive will post -4.82 EPS for the current year.

Insider Activity

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at $10,234,023.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at $10,234,023.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 417,497 shares of company stock valued at $6,732,150. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Rivian Automotive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Rivian Automotive by 35.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after buying an additional 25,550,489 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Rivian Automotive by 714.3% in the first quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock valued at $277,046,000 after acquiring an additional 22,194,018 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Rivian Automotive by 1,521.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after acquiring an additional 5,937,605 shares in the last quarter. Norges Bank acquired a new position in shares of Rivian Automotive during the 4th quarter worth $129,427,000. Finally, Vanguard Group Inc. raised its holdings in shares of Rivian Automotive by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock valued at $1,602,629,000 after purchasing an additional 4,467,881 shares in the last quarter. Institutional investors and hedge funds 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.