Rivian Automotive (NASDAQ:RIVN) Rating Increased to Hold at Wall Street Zen

Rivian Automotive (NASDAQ:RIVN) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

RIVN has been the subject of several other research reports. UBS Group upped their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Rivian Automotive in a report on Wednesday, October 8th. Wedbush decreased their target price on Rivian Automotive from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on Rivian Automotive from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Monday, October 20th. Finally, The Goldman Sachs Group reduced their price objective on Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $13.75.

Rivian Automotive Trading Up 0.1%

Shares of NASDAQ RIVN opened at $15.23 on Friday. The company has a quick ratio of 2.72, a current ratio of 2.71 and a debt-to-equity ratio of 0.87. Rivian Automotive has a 12 month low of $9.55 and a 12 month high of $17.15. The company has a market cap of $18.48 billion, a price-to-earnings ratio of -4.90 and a beta of 1.81. The business has a fifty day simple moving average of $13.90 and a 200-day simple moving average of $13.67.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Tuesday, November 4th. The electric vehicle automaker reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.02. Rivian Automotive had a negative return on equity of 57.33% and a negative net margin of 61.34%.The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company earned ($1.08) EPS. The business’s revenue for the quarter was up 78.3% compared to the same quarter last year. Sell-side analysts predict that Rivian Automotive will post -3.2 EPS for the current year.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 17,450 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $14.00, for a total value of $244,300.00. Following the completion of the sale, the chief executive officer owned 1,316,205 shares of the company’s stock, valued at approximately $18,426,870. The trade was a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 7,247 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the transaction, the chief financial officer owned 789,445 shares in the company, valued at $9,694,384.60. This represents a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,147 shares of company stock worth $577,593 in the last 90 days. Corporate insiders own 2.16% of the company’s stock.

Institutional Trading of Rivian Automotive

Several large investors have recently added to or reduced their stakes in RIVN. Assetmark Inc. raised its holdings in shares of Rivian Automotive by 315.6% during the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,357 shares in the last quarter. Banque Transatlantique SA increased its position in Rivian Automotive by 13,194.1% during the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after buying an additional 2,243 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 1,000 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Rivian Automotive during the 3rd quarter worth $30,000. Finally, Fairman Group LLC acquired a new stake in shares of Rivian Automotive in the second quarter valued at about $31,000. 66.25% of the stock is 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.