Rivian Automotive (NASDAQ:RIVN) Hits New 1-Year Low at $15.82

Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating)’s stock price reached a new 52-week low during mid-day trading on Saturday . The company traded as low as 15.82 and last traded at 16.45, with a volume of 42771398 shares trading hands. The stock had previously closed at 17.58.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of Rivian Automotive from $83.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, November 10th. Canaccord Genuity Group dropped their price objective on shares of Rivian Automotive from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, November 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Rivian Automotive from $44.00 to $43.00 in a research note on Thursday, November 10th. Robert W. Baird dropped their price objective on shares of Rivian Automotive from $51.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, December 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Rivian Automotive from $35.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, November 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of 43.38.

Rivian Automotive Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 6.84 and a quick ratio of 6.39. The company’s 50-day simple moving average is 25.03 and its 200-day simple moving average is 30.49. The company has a market cap of $15.15 billion, a price-to-earnings ratio of -1.59 and a beta of 1.83.

Rivian Automotive (NASDAQ:RIVNGet Rating) last issued its quarterly earnings data on Wednesday, November 9th. The electric vehicle automaker reported -1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of -1.78 by 0.21. Rivian Automotive had a negative net margin of 714.01% and a negative return on equity of 32.42%. The company had revenue of 536.00 million during the quarter, compared to the consensus estimate of 513.89 million. On average, equities research analysts anticipate that Rivian Automotive, Inc. will post -7.41 EPS for the current year.

Insider Activity

In other news, CFO Claire Mcdonough sold 14,235 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of 34.92, for a total transaction of 497,086.20. Following the completion of the transaction, the chief financial officer now directly owns 81,151 shares in the company, valued at approximately 2,833,792.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Claire Mcdonough sold 14,235 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of 34.92, for a total transaction of 497,086.20. Following the completion of the transaction, the chief financial officer now directly owns 81,151 shares in the company, valued at approximately 2,833,792.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Jeff Baker sold 1,689 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of 34.38, for a total value of 58,067.82. Following the transaction, the chief accounting officer now owns 89,331 shares of the company’s stock, valued at 3,071,199.78. The disclosure for this sale can be found here. Company insiders own 2.34% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Several large investors have recently added to or reduced their stakes in RIVN. Bartlett & Co. LLC lifted its stake in Rivian Automotive by 104.2% during the second quarter. Bartlett & Co. LLC now owns 980 shares of the electric vehicle automaker’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Concord Wealth Partners acquired a new stake in Rivian Automotive in the second quarter worth $25,000. Gould Capital LLC lifted its stake in Rivian Automotive by 175.4% in the third quarter. Gould Capital LLC now owns 785 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. Venture Visionary Partners LLC acquired a new position in shares of Rivian Automotive during the second quarter valued at $27,000. Finally, Seeyond bought a new position in shares of Rivian Automotive during the second quarter worth about $27,000. 67.97% of the stock is currently 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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