Rivian Automotive (RIVN) to Release Quarterly Earnings on Wednesday

Rivian Automotive (NASDAQ:RIVN – Get Rating) will post its quarterly earnings results after the market closes on Wednesday, May 11th. Analysts expect Rivian Automotive to post earnings of -1.46 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Rivian Automotive (NASDAQ:RIVN – Get Rating) last issued its quarterly earnings data 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 company had revenue of 54.00 million during the quarter, compared to analysts’ expectations of 60.72 million. On average, analysts expect Rivian Automotive to post $-6 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

Shares of NASDAQ:RIVN opened at 31.99 on Wednesday. The business’s 50-day simple moving average is 43.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 14.14 and a quick ratio of 13.93. Rivian Automotive has a 12-month low of 29.32 and a 12-month high of 179.47.

A number of brokerages recently issued reports on RIVN. Deutsche Bank Aktiengesellschaft cut their price objective on Rivian Automotive from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 21st. BNP Paribas started coverage on Rivian Automotive in a research report on Monday, April 11th. They issued an “underperform” rating and a $35.00 target price for the company. Wolfe Research dropped their target price on Rivian Automotive from $130.00 to $78.00 and set an “outperform” rating for the company in a research report on Friday, March 11th. Wells Fargo & Company dropped their target price on Rivian Automotive from $70.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, March 11th. Finally, Wedbush dropped their target price on Rivian Automotive from $130.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, March 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of 83.06.

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new stake in Rivian Automotive during the fourth quarter worth approximately $29,321,000. Wells Fargo & Company MN purchased a new stake in Rivian Automotive during the fourth quarter worth approximately $14,786,000. Deutsche Bank AG purchased a new stake in Rivian Automotive during the fourth quarter worth approximately $13,748,000. Goldman Sachs Group Inc. purchased a new stake in Rivian Automotive during the fourth quarter worth approximately $11,542,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Rivian Automotive during the fourth quarter worth approximately $8,946,000. Institutional investors and hedge funds own 78.67% of the company’s stock.

Rivian Automotive Company Profile (Get Rating)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

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