Rivian Automotive (NASDAQ:RIVN) Price Target Lowered to $11.00 at Mizuho

Rivian Automotive (NASDAQ:RIVN) had its target price decreased by Mizuho from $12.00 to $11.00 in a research note published on Wednesday, Benzinga reports. Mizuho currently has a neutral rating on the electric vehicle automaker’s stock.

A number of other brokerages also recently commented on RIVN. Deutsche Bank Aktiengesellschaft restated a hold rating and set a $15.00 price objective on shares of Rivian Automotive in a research note on Tuesday, April 2nd. The Goldman Sachs Group reduced their target price on shares of Rivian Automotive from $20.00 to $17.00 and set a neutral rating for the company in a research note on Thursday, January 25th. Truist Financial reaffirmed a hold rating and set a $10.00 price target (down previously from $11.00) on shares of Rivian Automotive in a report on Thursday, May 2nd. Jefferies Financial Group initiated coverage on Rivian Automotive in a report on Thursday, March 7th. They issued a buy rating and a $16.00 price objective for the company. Finally, Needham & Company LLC reissued a buy rating and set a $13.00 target price on shares of Rivian Automotive in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Rivian Automotive presently has an average rating of Moderate Buy and a consensus target price of $19.00.

Rivian Automotive Stock Down 2.3 %

Shares of NASDAQ:RIVN opened at $9.99 on Wednesday. The company’s fifty day moving average is $10.30 and its two-hundred day moving average is $14.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.90 and a current ratio of 4.71. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $28.06. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of -1.73 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. Equities analysts anticipate that Rivian Automotive will post -4.77 EPS for the current year.

Insider Buying and Selling at Rivian Automotive

In other news, CAO Jeff Baker sold 31,425 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the sale, the chief accounting officer now owns 52,415 shares in the company, valued at $690,829.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the sale, the chief financial officer now directly owns 155,749 shares in the company, valued at approximately $2,523,133.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jeff Baker sold 31,425 shares of Rivian Automotive stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at $690,829.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,306 shares of company stock valued at $717,274. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. boosted its holdings in shares of Rivian Automotive by 8.2% during the 4th quarter. Federated Hermes Inc. now owns 8,559 shares of the electric vehicle automaker’s stock worth $201,000 after buying an additional 651 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of Rivian Automotive by 5.3% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 13,335 shares of the electric vehicle automaker’s stock worth $324,000 after purchasing an additional 668 shares during the period. Laidlaw Wealth Management LLC raised its position in shares of Rivian Automotive by 7.5% during the fourth quarter. Laidlaw Wealth Management LLC now owns 10,263 shares of the electric vehicle automaker’s stock valued at $241,000 after buying an additional 718 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its stake in shares of Rivian Automotive by 10.8% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 7,446 shares of the electric vehicle automaker’s stock valued at $175,000 after buying an additional 727 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Rivian Automotive by 13.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,416 shares of the electric vehicle automaker’s stock worth $156,000 after buying an additional 775 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

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.