Rivian Automotive (NASDAQ:RIVN) Trading Up 1.5%

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price traded up 1.5% during trading on Tuesday . The stock traded as high as $13.54 and last traded at $13.40. 5,768,130 shares changed hands during trading, a decline of 86% from the average session volume of 40,163,602 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RIVN shares. Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a report on Wednesday, August 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $15.00 target price on shares of Rivian Automotive in a report on Friday, August 16th. Wolfe Research initiated coverage on Rivian Automotive in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 price objective on shares of Rivian Automotive in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group raised their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rivian Automotive has an average rating of “Hold” and a consensus price target of $18.09.

Rivian Automotive Trading Up 1.9 %

The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average is $14.68 and its 200-day moving average is $12.32. The stock has a market capitalization of $13.26 billion, a PE ratio of -2.28 and a beta of 2.06.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. As a group, analysts anticipate that Rivian Automotive, Inc. will post -4.92 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 909,691 shares in the company, valued at approximately $10,234,023.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction 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 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 accessible through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares in the company, valued at approximately $5,328,423.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 500,830 shares of company stock worth $7,872,145. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Rivian Automotive

A number of large investors have recently modified their holdings of RIVN. Assenagon Asset Management S.A. increased its stake in Rivian Automotive by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock worth $492,000 after buying an additional 604 shares during the period. First Horizon Advisors Inc. increased its position in shares of Rivian Automotive by 30.7% during the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after acquiring an additional 670 shares during the last quarter. Laidlaw Wealth Management LLC lifted its stake in shares of Rivian Automotive by 7.5% in the fourth quarter. Laidlaw Wealth Management LLC now owns 10,263 shares of the electric vehicle automaker’s stock worth $241,000 after acquiring an additional 718 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Rivian Automotive by 28.0% in the second quarter. GAMMA Investing LLC now owns 3,470 shares of the electric vehicle automaker’s stock valued at $47,000 after purchasing an additional 760 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Rivian Automotive by 18.3% during the 4th quarter. Quadrant Capital Group LLC now owns 5,191 shares of the electric vehicle automaker’s stock valued at $122,000 after purchasing an additional 802 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.