Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Rating of “Buy” by Brokerages

Shares of Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) have been given an average recommendation of “Buy” by the nineteen brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is 83.88.

A number of research analysts have issued reports on the company. Mizuho lowered their price objective on Rivian Automotive from $95.00 to $90.00 in a research note on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on Rivian Automotive from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 21st. Morgan Stanley reiterated a “buy” rating and set a $85.00 price objective (down previously from $147.00) on shares of Rivian Automotive in a research note on Friday, March 11th. UBS Group assumed coverage on Rivian Automotive in a research note on Tuesday, January 11th. They set a “buy” rating for the company. Finally, Barclays lowered their price objective on Rivian Automotive from $42.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 26th.

RIVN opened at 33.92 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 14.14 and a quick ratio of 13.93. The company has a 50 day moving average price of 42.49. Rivian Automotive has a 52 week low of 29.32 and a 52 week high of 179.47.

Rivian Automotive (NASDAQ:RIVNGet Rating) last released its earnings results on Thursday, March 10th. The electric vehicle automaker reported -2.43 EPS for the quarter, missing the Zacks’ consensus estimate of -1.97 by -0.46. The firm had revenue of 54.00 million during the quarter, compared to the consensus estimate of 60.72 million. As a group, research analysts expect that Rivian Automotive will post -6.37 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of RIVN. DNB Asset Management AS bought a new stake in shares of Rivian Automotive in the fourth quarter worth $2,585,000. Wedbush Securities Inc. bought a new stake in shares of Rivian Automotive in the fourth quarter worth $631,000. Koshinski Asset Management Inc. bought a new stake in shares of Rivian Automotive in the fourth quarter worth $270,000. Baldwin Brothers LLC MA purchased a new position in Rivian Automotive during the fourth quarter valued at $26,000. Finally, IFM Investors Pty Ltd purchased a new position in Rivian Automotive during the fourth quarter valued at $2,206,000. 78.67% of the stock is owned by institutional investors.

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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Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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