Atria Wealth Solutions Inc. Decreases Position in Rivian Automotive, Inc. $RIVN

Atria Wealth Solutions Inc. decreased its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 57.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,312 shares of the electric vehicle automaker’s stock after selling 15,494 shares during the period. Atria Wealth Solutions Inc.’s holdings in Rivian Automotive were worth $141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. PFS Partners LLC boosted its position in shares of Rivian Automotive by 1,882.0% in the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker’s stock worth $25,000 after buying an additional 1,882 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter worth about $34,000. Olde Wealth Management LLC purchased a new stake in shares of Rivian Automotive in the first quarter worth about $37,000. Quarry LP purchased a new position in Rivian Automotive in the fourth quarter valued at about $38,000. Finally, Golden State Wealth Management LLC boosted its holdings in Rivian Automotive by 107.9% in the first quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker’s stock valued at $41,000 after purchasing an additional 1,714 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Up 1.5%

Shares of NASDAQ RIVN opened at $12.24 on Monday. The company has a market cap of $14.85 billion, a price-to-earnings ratio of -3.79 and a beta of 1.80. Rivian Automotive, Inc. has a 12-month low of $9.50 and a 12-month high of $17.15. The company has a current ratio of 3.44, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. The stock’s 50 day simple moving average is $13.17 and its 200 day simple moving average is $12.95.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.32). The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted ($1.46) EPS. Equities research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RIVN shares. Morgan Stanley reduced their price target on Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Canaccord Genuity Group reduced their price target on Rivian Automotive from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded Rivian Automotive from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. UBS Group reduced their price target on Rivian Automotive from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $16.00 price target on shares of Rivian Automotive in a report on Wednesday, May 14th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.69.

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.