Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Rating of “Hold” by Brokerages

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been given a consensus rating of “Hold” by the twenty-four research firms that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $16.7350.

Several brokerages have recently issued reports on RIVN. Wedbush lifted their target price on shares of Rivian Automotive from $16.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, December 19th. Tigress Financial lifted their price objective on Rivian Automotive from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Wolfe Research cut Rivian Automotive from a “peer perform” rating to an “underperform” rating in a report on Monday, January 12th. Zacks Research upgraded Rivian Automotive from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. boosted their price target on Rivian Automotive from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, October 20th.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 17,450 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $16.03, for a total value of $279,723.50. Following the completion of the sale, the chief executive officer directly owned 1,115,209 shares in the company, valued at $17,876,800.27. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 8,039 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $18.00, for a total transaction of $144,702.00. Following the completion of the transaction, the chief financial officer directly owned 730,017 shares in the company, valued at approximately $13,140,306. This represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 172,504 shares of company stock valued at $3,012,734 over the last 90 days. 2.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of Rivian Automotive by 28.0% in the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker’s stock valued at $235,000 after purchasing an additional 3,864 shares during the last quarter. AQR Capital Management LLC grew its holdings in Rivian Automotive by 1.5% in the 1st quarter. AQR Capital Management LLC now owns 386,384 shares of the electric vehicle automaker’s stock valued at $4,733,000 after buying an additional 5,590 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Rivian Automotive by 10.1% in the 1st quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker’s stock worth $679,000 after acquiring an additional 4,998 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Rivian Automotive by 29.0% during the 1st quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker’s stock worth $803,000 after acquiring an additional 14,497 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Rivian Automotive by 57.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock valued at $64,000 after acquiring an additional 1,856 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $14.81 on Friday. The stock has a market capitalization of $18.16 billion, a P/E ratio of -4.76 and a beta of 1.76. The company’s fifty day moving average price is $17.89 and its 200 day moving average price is $15.27. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. Rivian Automotive has a 1 year low of $10.36 and a 1 year high of $22.69.

Rivian Automotive Company Profile

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.