Rivian Automotive (NASDAQ:RIVN) Downgraded by Barclays

Rivian Automotive (NASDAQ:RIVNGet Free Report) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat.com reports. They presently have a $16.00 price target on the electric vehicle automaker’s stock, down from their previous price target of $25.00. Barclays‘s price target indicates a potential downside of 4.08% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Wolfe Research reissued a “peer perform” rating on shares of Rivian Automotive in a research report on Thursday, January 4th. Needham & Company LLC dropped their price objective on Rivian Automotive from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $19.00 target price (down from $29.00) on shares of Rivian Automotive in a report on Wednesday, January 17th. Cantor Fitzgerald lowered their price target on shares of Rivian Automotive from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, November 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Rivian Automotive has a consensus rating of “Moderate Buy” and an average target price of $26.81.

Get Our Latest Stock Analysis on Rivian Automotive

Rivian Automotive Stock Up 3.5 %

RIVN stock opened at $16.68 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.61 and a quick ratio of 3.64. Rivian Automotive has a 12 month low of $11.68 and a 12 month high of $28.06. The firm has a market capitalization of $15.97 billion, a PE ratio of -2.77 and a beta of 2.07. The company’s 50 day simple moving average is $18.92 and its 200-day simple moving average is $19.85.

Insiders Place Their Bets

In related news, CFO Claire Mcdonough sold 3,265 shares of Rivian Automotive stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $17.08, for a total transaction of $55,766.20. Following the sale, the chief financial officer now owns 173,030 shares of the company’s stock, valued at approximately $2,955,352.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Institutional Trading of Rivian Automotive

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Rivian Automotive by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 63,845,364 shares of the electric vehicle automaker’s stock worth $1,550,165,000 after acquiring an additional 408,677 shares in the last quarter. BlackRock Inc. lifted its position in shares of Rivian Automotive by 9.7% during the second quarter. BlackRock Inc. now owns 55,827,991 shares of the electric vehicle automaker’s stock worth $930,094,000 after purchasing an additional 4,924,020 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in shares of Rivian Automotive during the fourth quarter worth about $228,175,000. State Street Corp grew its stake in Rivian Automotive by 22.6% in the second quarter. State Street Corp now owns 11,704,572 shares of the electric vehicle automaker’s stock worth $194,998,000 after purchasing an additional 2,156,922 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Rivian Automotive by 14.0% in the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock valued at $235,409,000 after buying an additional 1,193,650 shares during the last quarter. Institutional investors own 62.79% of the company’s stock.

Rivian Automotive Company Profile

(Get Free Report)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.

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Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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