Rivian Automotive Sees Unusually Large Options Volume (NASDAQ:RIVN)

Rivian Automotive, Inc. (NASDAQ:RIVN) was the recipient of some unusual options trading on Monday. Investors purchased 207,786 call options on the company. This represents an increase of approximately 39% compared to the typical daily volume of 149,235 call options.

Insider Activity

In other news, CEO Robert J. Scaringe sold 52,350 shares of Rivian Automotive stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $16.60, for a total value of $869,010.00. Following the sale, the chief executive officer owned 1,246,405 shares in the company, valued at $20,690,323. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 104,700 shares of company stock worth $1,621,280. Company insiders own 2.16% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assetmark Inc. grew its position in shares of Rivian Automotive by 315.6% in the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,357 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after buying an additional 1,000 shares during the last quarter. Mather Group LLC. acquired a new stake in Rivian Automotive in the 3rd quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Rivian Automotive during the 3rd quarter valued at about $31,000. Finally, Hemington Wealth Management increased its stake in shares of Rivian Automotive by 291.0% during the 3rd quarter. Hemington Wealth Management now owns 2,123 shares of the electric vehicle automaker’s stock valued at $31,000 after acquiring an additional 1,580 shares during the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on RIVN. Wall Street Zen raised shares of Rivian Automotive from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Morgan Stanley decreased their price objective on shares of Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rivian Automotive in a research report on Wednesday, October 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $21.00 target price on shares of Rivian Automotive in a research report on Friday, October 3rd. Finally, Wedbush decreased their price target on Rivian Automotive from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.34.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $17.23 on Wednesday. The stock’s 50-day moving average is $14.52 and its two-hundred day moving average is $13.96. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. Rivian Automotive has a 1 year low of $10.36 and a 1 year high of $18.13. The firm has a market cap of $21.12 billion, a price-to-earnings ratio of -5.54 and a beta of 1.79.

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.