Interval Partners LP Acquires Shares of 62,282 Rivian Automotive, Inc. (NASDAQ:RIVN)

Interval Partners LP acquired a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,282 shares of the electric vehicle automaker’s stock, valued at approximately $836,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quent Capital LLC grew its stake in Rivian Automotive by 74.3% in the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 2,380 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Rivian Automotive in the 4th quarter worth $33,000. Benjamin Edwards Inc. acquired a new stake in shares of Rivian Automotive in the 1st quarter worth $33,000. Finally, Fairman Group LLC purchased a new position in Rivian Automotive in the 4th quarter worth $36,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction 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 in the company, valued at $5,328,423.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated 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 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 through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.97, for a total transaction of $1,069,292.13. Following the transaction, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at $13,618,074.27. The disclosure for this sale can be found here. Insiders sold 429,401 shares of company stock worth $7,068,569 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Rivian Automotive Trading Down 0.6 %

Shares of RIVN stock opened at $11.84 on Wednesday. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average price of $14.25 and a 200 day moving average price of $12.33. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.87.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results 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 return on equity of 65.40% and a negative net margin of 115.50%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. As a group, sell-side analysts expect that Rivian Automotive, Inc. will post -4.8 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $14.00 target price on shares of Rivian Automotive in a research note on Tuesday, September 10th. UBS Group lowered their price objective on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC lowered their price objective on Rivian Automotive from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a report on Wednesday, June 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.09.

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.