Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Average Rating of “Hold” from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) has received a consensus recommendation of “Hold” from the twenty-nine analysts that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $15.9478.

RIVN has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, November 17th. The Goldman Sachs Group raised their price target on Rivian Automotive from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rivian Automotive in a report on Wednesday, October 8th. Mizuho reissued an “underperform” rating and issued a $10.00 target price (down from $14.00) on shares of Rivian Automotive in a report on Monday, October 20th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of Rivian Automotive in a research report on Monday, December 15th.

Check Out Our Latest Report on RIVN

Rivian Automotive News Summary

Here are the key news stories impacting Rivian Automotive this week:

Rivian Automotive Trading Down 1.6%

RIVN stock opened at $18.85 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23. Rivian Automotive has a 1-year low of $10.36 and a 1-year high of $22.69. The business has a 50 day simple moving average of $17.95 and a two-hundred day simple moving average of $14.98. The company has a market capitalization of $23.11 billion, a price-to-earnings ratio of -6.06 and a beta of 1.77.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last released its quarterly earnings data on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.06. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the business posted ($1.08) earnings per share. The company’s revenue for the quarter was up 78.3% compared to the same quarter last year. Research analysts anticipate that Rivian Automotive will post -3.2 EPS for the current fiscal year.

Insider Activity

In other Rivian Automotive news, Director Peter Krawiec sold 3,655 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $19.45, for a total transaction of $71,089.75. Following the sale, the director directly owned 29,122 shares in the company, valued at $566,422.90. This represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 8,039 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $18.00, for a total value of $144,702.00. Following the completion of the sale, the chief financial officer directly owned 730,017 shares of the company’s stock, valued at $13,140,306. The trade was a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 155,054 shares of company stock worth $2,733,010. 2.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Several institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Rivian Automotive by 15.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,849,818 shares of the electric vehicle automaker’s stock worth $80,376,000 after purchasing an additional 799,030 shares during the period. XTX Topco Ltd bought a new position in shares of Rivian Automotive in the second quarter worth about $1,324,000. Farther Finance Advisors LLC increased its stake in Rivian Automotive by 227.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 117,096 shares of the electric vehicle automaker’s stock worth $1,719,000 after buying an additional 81,291 shares during the period. Tableaux LLC bought a new stake in Rivian Automotive during the 2nd quarter valued at about $3,435,000. Finally, Udine Wealth Management Inc. purchased a new stake in Rivian Automotive in the 2nd quarter valued at about $937,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Company Profile

(Get Free Report)

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.

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Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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