Recent Investment Analysts’ Ratings Updates for Rivian Automotive (RIVN)

A number of research firms have changed their ratings and price targets for Rivian Automotive (NASDAQ: RIVN):

• 9/30/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/25/2024 – Rivian Automotive was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $13.00 price target on the stock, down previously from $16.00.
• 9/23/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/16/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/10/2024 – Rivian Automotive had its “hold” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $14.00 price target on the stock.
• 9/9/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/5/2024 – Rivian Automotive is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
• 9/3/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 8/19/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 8/16/2024 – Rivian Automotive had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $15.00 price target on the stock.
• 8/7/2024 – Rivian Automotive had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $20.00 price target on the stock.
• 8/7/2024 – Rivian Automotive had its price target lowered by analysts at UBS Group AG from $17.00 to $16.00. They now have a “neutral” rating on the stock.
• 8/7/2024 – Rivian Automotive had its price target lowered by analysts at Wells Fargo & Company from $18.00 to $15.00. They now have an “equal weight” rating on the stock.
• 8/7/2024 – Rivian Automotive had its price target lowered by analysts at Needham & Company LLC from $20.00 to $18.00. They now have a “buy” rating on the stock.
• 8/5/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.

Rivian Automotive Stock Performance

Shares of RIVN traded down $0.01 during mid-day trading on Thursday, hitting $10.63. The stock had a trading volume of 7,299,623 shares, compared to its average volume of 40,063,813. The company has a market cap of $10.72 billion, a PE ratio of -1.84 and a beta of 2.06. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.61. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $13.53 and its two-hundred day simple moving average is $12.30.

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). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. On average, equities analysts expect that Rivian Automotive, Inc. will post -4.92 earnings per share for the current year.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $13,618,074.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Robert J. Scaringe sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $16,374,438. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $14.97, for a total value of $1,069,292.13. Following the completion of the sale, the chief executive officer now owns 909,691 shares in the company, valued at $13,618,074.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 512,734 shares of company stock worth $8,038,565. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Rivian Automotive by 35.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock worth $2,277,304,000 after acquiring an additional 25,550,489 shares during the last quarter. Vanguard Group Inc. grew its position in Rivian Automotive by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 69,539,602 shares of the electric vehicle automaker’s stock worth $761,459,000 after acquiring an additional 1,226,357 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Rivian Automotive by 30.5% during the 2nd quarter. Baillie Gifford & Co. now owns 33,015,793 shares of the electric vehicle automaker’s stock worth $443,072,000 after buying an additional 7,714,788 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rivian Automotive by 1,521.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after buying an additional 5,937,605 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Rivian Automotive by 153.2% during the 2nd quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock worth $72,877,000 after buying an additional 3,285,867 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

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.