Rivian Automotive (NASDAQ:RIVN) Price Target Lowered to $90.00 at Deutsche Bank Aktiengesellschaft

Rivian Automotive (NASDAQ:RIVNGet Rating) had its price objective cut by research analysts at Deutsche Bank Aktiengesellschaft from $91.00 to $90.00 in a note issued to investors on Thursday, The Fly reports.

RIVN has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Rivian Automotive from $104.00 to $84.00 in a research report on Wednesday, January 26th. Wedbush lowered their price target on Rivian Automotive from $130.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, March 11th. Zacks Investment Research cut Rivian Automotive from a “buy” rating to a “hold” rating in a report on Thursday, February 17th. Mizuho reduced their target price on Rivian Automotive from $95.00 to $90.00 in a report on Wednesday. Finally, Morgan Stanley reissued a “buy” rating and set a $85.00 target price (down previously from $147.00) on shares of Rivian Automotive in a report on Friday, March 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of 83.59.

Shares of RIVN opened at 36.23 on Thursday. Rivian Automotive has a 52 week low of 33.46 and a 52 week high of 179.47. The company has a current ratio of 14.14, a quick ratio of 13.93 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of 48.73.

Rivian Automotive (NASDAQ:RIVNGet Rating) last issued its quarterly earnings results on Thursday, March 10th. The electric vehicle automaker reported -2.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of -1.97 by -0.46. The business had revenue of 54.00 million during the quarter, compared to the consensus estimate of 60.72 million. On average, research analysts predict that Rivian Automotive will post -6.31 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Sargent Bickham Lagudis LLC acquired a new stake in Rivian Automotive during the fourth quarter worth $25,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in Rivian Automotive during the fourth quarter worth $25,000. Baldwin Brothers LLC MA acquired a new stake in Rivian Automotive during the fourth quarter worth $26,000. Retirement Group LLC acquired a new stake in Rivian Automotive during the fourth quarter worth $26,000. Finally, Lumature Wealth Partners LLC acquired a new stake in Rivian Automotive during the fourth quarter worth $26,000. 50.13% of the stock is owned by institutional investors.

About Rivian Automotive (Get Rating)

Rivian Automotive, Inc develops and manufactures electric adventure vehicles. It offers five-passenger pickup trucks and sports utility vehicles. The company provides electric SUVs and electric pickup vehicles. The company was founded in 2009 and is based in San Jose, California. It has additional facilities in Irvine, Carson, and Palo Alto, California; Normal, Illinois; Woking, United Kingdom; Plymouth, Michigan; Vancouver, Canada; and Wittman, Arizona.

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