Rivian Automotive (NASDAQ:RIVN) Given New $14.00 Price Target at Truist Financial

Rivian Automotive (NASDAQ:RIVNFree Report) had its price target increased by Truist Financial from $12.00 to $14.00 in a report published on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the electric vehicle automaker’s stock.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada cut their target price on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of Rivian Automotive in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price target on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, October 22nd. Barclays reduced their price target on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company reduced their target price on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Rivian Automotive has an average rating of “Hold” and an average target price of $15.48.

Read Our Latest Analysis on Rivian Automotive

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $14.21 on Thursday. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $18.85. The stock has a market capitalization of $14.50 billion, a P/E ratio of -2.54 and a beta of 2.05. The company’s 50-day moving average is $12.96 and its 200 day moving average is $13.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.17, for a total value of $1,155,006.93. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $13,960,547.37. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,429 shares of company stock worth $4,467,450. 2.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RIVN. Wilmington Savings Fund Society FSB acquired a new stake in Rivian Automotive during the 3rd quarter valued at $28,000. GHP Investment Advisors Inc. lifted its position in shares of Rivian Automotive by 63.2% in 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 in the last quarter. American Capital Advisory LLC boosted its stake in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. increased its position in Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Rivian Automotive during the third quarter worth about $44,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

Receive News & Ratings for Rivian Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rivian Automotive and related companies with MarketBeat.com's FREE daily email newsletter.