Analysts Set Rivian Automotive, Inc. (NASDAQ:RIVN) Target Price at $15.73

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have received a consensus rating of “Hold” from the twenty-three ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $15.73.

RIVN has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $19.00 price target on shares of Rivian Automotive in a research report on Monday, September 30th. Truist Financial lowered their target price on shares of Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Guggenheim cut their price target on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Royal Bank of Canada lowered their price objective 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. Finally, Morgan Stanley downgraded Rivian Automotive from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $16.00 to $13.00 in a research report on Wednesday, September 25th.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $10.06 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.01. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of -1.80 and a beta of 2.04. The stock’s fifty day moving average price is $11.09 and its two-hundred day moving average price is $12.43. Rivian Automotive has a one year low of $8.26 and a one year high of $24.61.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the completion of the transaction, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. This represents a 8.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

Institutional investors have recently modified their holdings of the business. Quent Capital LLC grew its position in shares of Rivian Automotive by 74.3% in the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 2,380 shares during the period. GHP Investment Advisors Inc. boosted its holdings in 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 during the last quarter. American Capital Advisory LLC increased its position in Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after purchasing an additional 2,111 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings 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 during the last quarter. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Company Profile

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.