Aristides Capital LLC Buys New Position in Rivian Automotive, Inc. $RIVN

Aristides Capital LLC bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 76,680 shares of the electric vehicle automaker’s stock, valued at approximately $1,154,000.

A number of other hedge funds have also added to or reduced their stakes in RIVN. Danske Bank A S grew its position in Rivian Automotive by 36.8% during the fourth quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker’s stock valued at $12,102,000 after buying an additional 165,300 shares during the period. Trek Financial LLC bought a new position in Rivian Automotive in the fourth quarter worth approximately $6,115,000. Independent Financial Group LLC bought a new stake in shares of Rivian Automotive during the 1st quarter valued at $985,000. Swedbank AB increased its stake in shares of Rivian Automotive by 8.6% in the 4th quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker’s stock worth $18,553,000 after purchasing an additional 74,322 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Rivian Automotive by 34.9% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 348,800 shares of the electric vehicle automaker’s stock worth $5,249,000 after purchasing an additional 90,200 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Trending Headlines about Rivian Automotive

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

• Positive Sentiment: Rivian remains in focus ahead of its July 30 earnings release, with recent coverage highlighting expectations for higher revenue and earnings versus the prior period. The stock has also shown some recent recovery over the past month, suggesting traders still see a turnaround case. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Longer-term bullish commentary is pointing to Rivian’s improving gross profitability trend and arguing the company has several factors that could support a durable investment case. 3 Big Reasons to Believe in Rivian Stock Long-Term
• Neutral Sentiment: Despite the recent attention, one analysis says Rivian does not currently have the key setup that typically leads to an earnings beat, which keeps expectations guarded heading into the report. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
• Negative Sentiment: Rivian is being pulled lower along with other EV stocks after Tesla reported a profit miss, which has raised fresh questions about demand, margins, and profitability across the sector. Tesla Slides 8% on Earnings Miss Despite Record Deliveries; Rivian, Lucid Slip
• Negative Sentiment: Broader commentary on the U.S. EV industry has been pessimistic, emphasizing shrinking market enthusiasm and the financial strain on young EV makers like Rivian, which can weigh on sentiment ahead of earnings. This Stock Is Crushing Both Lucid and Rivian in 1 Crucial Way

Rivian Automotive Price Performance

Shares of RIVN stock opened at $16.46 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of -5.64 and a beta of 1.60. The stock has a fifty day simple moving average of $16.28 and a two-hundred day simple moving average of $16.01. Rivian Automotive, Inc. has a twelve month low of $11.57 and a twelve month high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.05. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company posted ($0.48) EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts predict that Rivian Automotive, Inc. will post -3.06 EPS for the current fiscal year.

Insider Activity

In related news, Director Karen Boone sold 20,000 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the sale, the director owned 110,000 shares in the company, valued at approximately $2,200,000. This trade represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of Rivian Automotive stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the sale, the chief financial officer directly owned 887,007 shares in the company, valued at $14,192,112. This represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,385 shares of company stock valued at $1,125,094 in the last three months. 1.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RIVN shares. Cantor Fitzgerald reissued a “neutral” rating on shares of Rivian Automotive in a report on Monday, June 15th. BNP Paribas Exane increased their target price on shares of Rivian Automotive from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Rivian Automotive from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Morgan Stanley upped their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, July 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Rivian Automotive in a research note on Wednesday, June 10th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.86.

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.