Rivian Automotive (NASDAQ:RIVN) Shares Up 3.8%

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) rose 3.8% during trading on Monday . The stock traded as high as $12.18 and last traded at $12.15. Approximately 15,696,803 shares changed hands during trading, a decline of 61% from the average daily volume of 40,204,324 shares. The stock had previously closed at $11.71.

Analysts Set New Price Targets

RIVN has been the topic of several analyst reports. UBS Group dropped their price target on shares of Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $14.00 price objective on shares of Rivian Automotive in a report on Tuesday, September 10th. Barclays increased their price objective on shares of Rivian Automotive from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. Mizuho increased their price objective on shares of Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Finally, Truist Financial raised their price target on shares of Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.09.

Rivian Automotive Stock Up 1.5 %

The firm’s 50-day moving average price is $14.48 and its 200 day moving average price is $12.35. The firm has a market cap of $11.83 billion, a P/E ratio of -2.08 and a beta of 2.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data 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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. On average, equities research analysts expect that Rivian Automotive, Inc. will post -4.92 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 392,662 shares in the company, valued at $5,328,423.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Claire Mcdonough sold 3,210 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the transaction, the chief executive officer now owns 886,526 shares in the company, valued at approximately $12,127,675.68. The disclosure for this sale can be found here. Insiders have sold 500,830 shares of company stock worth $7,872,145 over the last quarter. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently modified their holdings of RIVN. Royal London Asset Management Ltd. boosted its holdings in Rivian Automotive by 19.6% during the second quarter. Royal London Asset Management Ltd. now owns 300,076 shares of the electric vehicle automaker’s stock worth $4,027,000 after purchasing an additional 49,216 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in Rivian Automotive during the 1st quarter worth about $265,000. Berkshire Capital Holdings Inc. lifted its holdings in Rivian Automotive by 3,511,500.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 351,160 shares of the electric vehicle automaker’s stock worth $8,238,000 after buying an additional 351,150 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Rivian Automotive by 9.9% in the 4th quarter. Allianz Asset Management GmbH now owns 3,403,461 shares of the electric vehicle automaker’s stock valued at $79,845,000 after purchasing an additional 306,551 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in shares of Rivian Automotive during the first quarter valued at about $574,000. 66.25% of the stock is owned by institutional investors.

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.