Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $15.52 Consensus Price Target from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has received a consensus recommendation of “Hold” from the twenty-six ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $15.13.

RIVN has been the subject of a number of recent research reports. Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Bank of America downgraded Rivian Automotive from a “buy” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $13.00 in a research note on Friday, November 8th. The Goldman Sachs Group boosted their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Mizuho decreased their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, UBS Group lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value 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 represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 363,142 shares of company stock valued at $4,958,860 over the last quarter. Insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the business. John G Ullman & Associates Inc. raised its position in shares of Rivian Automotive by 9.1% during the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after acquiring an additional 1,000 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares during the last quarter. RFG Holdings Inc. grew its position in shares of Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock worth $296,000 after buying an additional 1,096 shares during the period. Tradition Wealth Management LLC raised its stake in shares of Rivian Automotive by 11.9% during the third quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock worth $132,000 after buying an additional 1,250 shares during the last quarter. Finally, Regal Investment Advisors LLC lifted its holdings in Rivian Automotive by 7.0% in the second quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle automaker’s stock valued at $262,000 after buying an additional 1,281 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $12.56 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $18.85. The stock’s 50-day moving average is $13.44 and its two-hundred day moving average is $12.86. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of -2.24 and a beta of 2.05.

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.