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

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) has received a consensus recommendation of “Hold” from the twenty-five research firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.8571.

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rivian Automotive in a research note on Thursday, January 22nd. Canaccord Genuity Group reiterated a “buy” rating on shares of Rivian Automotive in a research note on Monday, December 15th. Piper Sandler reduced their target price on shares of Rivian Automotive from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Tigress Financial lifted their price target on shares of Rivian Automotive from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $15.00 price objective on shares of Rivian Automotive in a research note on Tuesday.

Read Our Latest Stock Analysis on RIVN

Trending Headlines about Rivian Automotive

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

Insider Activity

In other news, CEO Robert J. Scaringe sold 34,900 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $586,320.00. Following the completion of the transaction, the chief executive officer owned 1,044,731 shares in the company, valued at approximately $17,551,480.80. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 27,133 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $16.80, for a total value of $455,834.40. Following the completion of the sale, the chief financial officer owned 680,836 shares in the company, valued at $11,438,044.80. This represents a 3.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 135,488 shares of company stock valued at $2,413,967 in the last 90 days. Insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

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

Rivian Automotive Trading Down 1.2%

NASDAQ:RIVN opened at $14.92 on Thursday. Rivian Automotive has a 52 week low of $10.36 and a 52 week high of $22.69. The firm has a 50-day moving average price of $16.73 and a two-hundred day moving average price of $15.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.89 and a current ratio of 2.33. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of -4.86 and a beta of 1.75.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last released its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.02. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative return on equity of 65.05% and a negative net margin of 67.68%.Rivian Automotive’s quarterly revenue was down 25.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.70) earnings per share. On average, equities analysts expect that Rivian Automotive will post -3.2 earnings per share for the current fiscal year.

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.

Recommended Stories

Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

Receive News & Ratings for Rivian Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rivian Automotive and related companies with MarketBeat.com's FREE daily email newsletter.