Rivian Automotive (NASDAQ:RIVN) Stock Rating Lowered by Baird R W

Baird R W downgraded shares of Rivian Automotive (NASDAQ:RIVN) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lowered their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Mizuho dropped their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company decreased their price target on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Finally, Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of Rivian Automotive in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Rivian Automotive presently has an average rating of “Hold” and a consensus target price of $15.74.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $13.83 on Wednesday. The firm has a market cap of $14.12 billion, a P/E ratio of -2.47 and a beta of 2.12. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $11.44 and its 200-day moving average is $12.76. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $24.61.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the transaction, the chief financial officer now owns 378,498 shares in the company, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total value of $937,507.50. Following the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $9,712,811.25. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,904 shares of company stock worth $3,291,004. 2.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Rivian Automotive during the 3rd quarter valued at $28,000. GHP Investment Advisors Inc. raised its stake in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Rivian Automotive during the second quarter worth about $37,000. First Horizon Advisors Inc. grew its stake in shares of Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after purchasing an additional 670 shares during the last quarter. Finally, American Capital Advisory LLC grew its stake in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

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.