Rivian Automotive Target of Unusually Large Options Trading (NASDAQ:RIVN)

Rivian Automotive, Inc. (NASDAQ:RIVN) saw some unusual options trading activity on Monday. Stock traders bought 237,080 call options on the stock. This is an increase of approximately 40% compared to the typical daily volume of 169,320 call options.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,403 shares of company stock valued at $3,013,489. Insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Rivian Automotive in the third quarter worth approximately $28,000. GHP Investment Advisors Inc. raised its holdings in 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 worth $29,000 after acquiring an additional 1,002 shares during the last quarter. American Capital Advisory LLC lifted its position in Rivian Automotive by 267.6% in the 3rd 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 in the last quarter. Hantz Financial Services Inc. lifted its position in Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Rivian Automotive during the 2nd quarter valued at $37,000. 66.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stifel Nicolaus lowered their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company dropped their price objective on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Wolfe Research started coverage on Rivian Automotive in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Guggenheim dropped 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. Finally, Needham & Company LLC cut their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and an average target price of $15.83.

Rivian Automotive Stock Performance

Shares of RIVN opened at $14.70 on Wednesday. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The stock has a market cap of $15.00 billion, a P/E ratio of -2.63 and a beta of 2.12. The business’s 50 day moving average price is $11.18 and its 200-day moving average price is $12.71. Rivian Automotive has a 52 week low of $8.26 and a 52 week high of $24.61.

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.