Rivian Automotive (NASDAQ:RIVN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Rivian Automotive (NASDAQ:RIVN) had its target price raised by Stifel Nicolaus from $16.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the electric vehicle automaker’s stock. Stifel Nicolaus’ target price suggests a potential upside of 13.41% from the company’s current price.

Several other equities research analysts have also commented on RIVN. Morgan Stanley lowered their price target on shares of Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Cfra Research raised Rivian Automotive to a “moderate sell” rating in a report on Thursday, October 2nd. Zacks Research upgraded Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Wall Street Zen upgraded Rivian Automotive from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group decreased their price target on Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Six equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.34.

Rivian Automotive Stock Up 0.8%

NASDAQ:RIVN opened at $14.99 on Monday. The firm has a market capitalization of $18.38 billion, a P/E ratio of -4.82 and a beta of 1.81. Rivian Automotive has a 1-year low of $9.90 and a 1-year high of $18.13. The company’s fifty day moving average price is $14.21 and its 200-day moving average price is $13.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 52,350 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total transaction of $869,010.00. Following the transaction, the chief executive officer owned 1,246,405 shares in the company, valued at approximately $20,690,323. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 87,250 shares of company stock valued at $1,357,610. Corporate insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Prospera Financial Services Inc lifted its stake in shares of Rivian Automotive by 5.2% during the third quarter. Prospera Financial Services Inc now owns 15,803 shares of the electric vehicle automaker’s stock valued at $232,000 after buying an additional 775 shares during the period. Siemens Fonds Invest GmbH raised its holdings in Rivian Automotive by 7.7% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 10,874 shares of the electric vehicle automaker’s stock valued at $160,000 after acquiring an additional 780 shares during the last quarter. First National Trust Co lifted its stake in shares of Rivian Automotive by 5.3% during the 1st quarter. First National Trust Co now owns 16,000 shares of the electric vehicle automaker’s stock worth $199,000 after purchasing an additional 800 shares during the period. Equitable Holdings Inc. boosted its holdings in shares of Rivian Automotive by 5.8% during the third quarter. Equitable Holdings Inc. now owns 14,699 shares of the electric vehicle automaker’s stock worth $216,000 after purchasing an additional 803 shares during the last quarter. Finally, TD Asset Management Inc grew its position in shares of Rivian Automotive by 1.2% in the second quarter. TD Asset Management Inc now owns 75,841 shares of the electric vehicle automaker’s stock valued at $1,042,000 after purchasing an additional 870 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

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.