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

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been given an average rating of “Moderate Buy” by the twenty-four research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.61.

RIVN has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of Rivian Automotive in a research report on Wednesday, April 3rd. Stifel Nicolaus reduced their price objective on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, February 26th. Bank of America dropped their target price on Rivian Automotive from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Barclays dropped their price objective on shares of Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Finally, The Goldman Sachs Group decreased their price target on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th.

Rivian Automotive Price Performance

RIVN opened at $9.04 on Monday. The company has a market cap of $8.84 billion, a price-to-earnings ratio of -1.57 and a beta of 1.88. The stock has a fifty day simple moving average of $10.83 and a two-hundred day simple moving average of $15.48. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $28.06. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Research analysts predict that Rivian Automotive will post -4.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the sale, the chief accounting officer now owns 52,415 shares in the company, valued at $690,829.70. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock valued at $717,274 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC bought a new stake in Rivian Automotive in the third quarter worth $27,000. Bear Mountain Capital Inc. purchased a new position in shares of Rivian Automotive in the 4th quarter worth $26,000. First Horizon Advisors Inc. increased its holdings in shares of Rivian Automotive by 1,537.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock worth $32,000 after buying an additional 1,245 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Rivian Automotive during the 4th quarter valued at about $33,000. Finally, Arlington Trust Co LLC purchased a new stake in shares of Rivian Automotive during the 4th quarter valued at about $35,000. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.