Rivian Automotive (NASDAQ:RIVN) Stock Price Down 0.1%

Shares of Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) fell 0.1% during mid-day trading on Friday . The company traded as low as $11.46 and last traded at $11.73. 6,883,374 shares changed hands during trading, a decline of 83% from the average session volume of 41,109,242 shares. The stock had previously closed at $11.74.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RIVN. Morgan Stanley decreased their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. DA Davidson decreased their price target on shares of Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Bank of America decreased 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. Jefferies Financial Group began coverage on Rivian Automotive in a report on Thursday, March 7th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Rivian Automotive in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Get Our Latest Research Report on RIVN

Rivian Automotive Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 4.71 and a quick ratio of 3.55. The company has a 50-day moving average price of $10.06 and a 200-day moving average price of $14.09.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last posted its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. Analysts forecast that Rivian Automotive, Inc. will post -4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of Rivian Automotive stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares in the company, valued at $690,829.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Rivian Automotive

Institutional investors have recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in shares of Rivian Automotive by 7.3% in the third quarter. Stifel Financial Corp now owns 288,191 shares of the electric vehicle automaker’s stock valued at $6,997,000 after purchasing an additional 19,699 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Rivian Automotive in the third quarter valued at about $4,473,000. Morgan Stanley increased its position in shares of Rivian Automotive by 14.0% in the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock valued at $235,409,000 after acquiring an additional 1,193,650 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Rivian Automotive in the third quarter valued at about $1,806,000. Finally, Trust Point Inc. acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at about $246,000. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Company Profile

(Get Free Report)

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.

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