BNP Paribas Exane Issues Positive Forecast for Rivian Automotive (NASDAQ:RIVN) Stock Price

Rivian Automotive (NASDAQ:RIVN) had its price objective increased by BNP Paribas Exane from $22.00 to $24.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the electric vehicle automaker’s stock.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Rivian Automotive in a report on Wednesday, June 10th. Cantor Fitzgerald reissued a “neutral” rating on shares of Rivian Automotive in a research report on Monday, June 15th. Wall Street Zen raised shares of Rivian Automotive from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. TD Cowen reissued a “buy” rating and issued a $20.00 price target on shares of Rivian Automotive in a report on Wednesday, June 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.76.

Rivian Automotive Trading Up 1.0%

Shares of Rivian Automotive stock opened at $16.66 on Wednesday. Rivian Automotive has a 52-week low of $11.57 and a 52-week high of $22.69. The company’s 50-day simple moving average is $15.71 and its 200-day simple moving average is $16.26. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of -5.71 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.Rivian Automotive’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.48) earnings per share. As a group, equities research analysts anticipate that Rivian Automotive will post -3.09 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, Director Karen Boone sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the director owned 110,000 shares in the company, valued at approximately $2,200,000. This represents a 15.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total transaction of $184,410.00. Following the completion of the transaction, the chief financial officer directly owned 946,814 shares in the company, valued at $17,042,652. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 100,076 shares of company stock valued at $1,656,286 over the last ninety days. Corporate insiders own 1.48% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Rivian Automotive by 4.0% in the first quarter. Parallel Advisors LLC now owns 16,056 shares of the electric vehicle automaker’s stock valued at $242,000 after buying an additional 613 shares during the period. Illinois Municipal Retirement Fund boosted its position in Rivian Automotive by 1.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 43,282 shares of the electric vehicle automaker’s stock valued at $853,000 after buying an additional 686 shares in the last quarter. Merit Financial Group LLC grew its position in Rivian Automotive by 3.2% during the 4th quarter. Merit Financial Group LLC now owns 23,127 shares of the electric vehicle automaker’s stock worth $456,000 after acquiring an additional 718 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Rivian Automotive by 36.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,764 shares of the electric vehicle automaker’s stock valued at $54,000 after buying an additional 739 shares in the last quarter. Finally, Utah Retirement Systems increased its position in Rivian Automotive by 0.6% in the 4th quarter. Utah Retirement Systems now owns 128,500 shares of the electric vehicle automaker’s stock valued at $2,533,000 after acquiring an additional 744 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Analysts at BNP Paribas Exane raised their price target on Rivian to $24 and maintained an outperform rating, signaling confidence in longer-term upside despite the selloff.
• Positive Sentiment: Rivian’s Q2 delivery update was stronger than expected, and the company lifted its full-year delivery outlook, which supports the growth story for its upcoming R2 launch.
• Neutral Sentiment: Rivian’s latest article highlights that the new capital could help fund expansion, manufacturing capacity, and the R2 program, but investors are still waiting to see whether the added cash improves execution. Rivian’s 75 Million-Share Offering Turns the R2 Growth Story Into a Dilution Test
• Neutral Sentiment: Broader coverage notes that Rivian still has a solid revenue outlook and stronger cash position than before, but the company remains unprofitable and capital-intensive as it ramps production. Rivian’s 75 Million-Share Offering Turns the R2 Growth Story Into a Dilution Test
• Negative Sentiment: The share offering is the main overhang, as investors worry the new stock sale will dilute existing holders and signal that Rivian still needs substantial outside funding to support growth.
• Negative Sentiment: Several articles point to the selloff being driven by cash-burn concerns and the risk that Rivian must keep raising capital before its business can scale profitably.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.