Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Average Rating of “Moderate Buy” from Brokerages

Rivian Automotive, Inc. (NASDAQ:RIVN) has been given an average rating of “Moderate Buy” by the twenty-four research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $19.61.

RIVN has been the subject of several research analyst reports. Needham & Company LLC cut their target price on shares of Rivian Automotive from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Wolfe Research reissued a “peer perform” rating on shares of Rivian Automotive in a research report on Thursday, January 4th. Evercore ISI cut their price target on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Bank of America reduced their price objective on Rivian Automotive from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, Morgan Stanley lowered their price objective on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the transaction, the insider now owns 407,787 shares of the company’s stock, valued at $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the transaction, the insider now directly owns 407,787 shares of the company’s stock, valued at $5,223,751.47. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the transaction, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders sold 54,306 shares of company stock valued at $717,274 in the last three months. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ancora Advisors LLC acquired a new position in shares of Rivian Automotive during the third quarter valued at $27,000. Bear Mountain Capital Inc. bought a new stake in Rivian Automotive during the 4th quarter worth about $26,000. First Horizon Advisors Inc. lifted its position in Rivian Automotive by 1,537.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock valued at $32,000 after purchasing an additional 1,245 shares during the period. Principal Securities Inc. bought a new position in shares of Rivian Automotive in the 4th quarter valued at about $33,000. Finally, Arlington Trust Co LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $35,000. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $9.04 on Monday. The stock has a market capitalization of $8.84 billion, a PE ratio of -1.57 and a beta of 1.88. The stock has a 50-day simple moving average of $10.83 and a 200 day simple moving average of $15.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Research analysts anticipate that Rivian Automotive will post -4.76 EPS for the current year.

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.