Rivian Automotive (NASDAQ:RIVN) Stock Price Up 0.2%

Rivian Automotive, Inc. (NASDAQ:RIVN) shares rose 0.2% during mid-day trading on Wednesday . The company traded as high as $9.20 and last traded at $9.06. Approximately 13,150,852 shares were traded during trading, a decline of 69% from the average daily volume of 42,480,000 shares. The stock had previously closed at $9.04.

Wall Street Analyst Weigh In

RIVN has been the topic of a number of recent research reports. Mizuho reissued a “neutral” rating and set a $12.00 price target on shares of Rivian Automotive in a research report on Monday, March 25th. Morgan Stanley dropped their price target on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Needham & Company LLC dropped their price objective on Rivian Automotive from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. DA Davidson dropped their price objective on Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Finally, Truist Financial reaffirmed a “hold” rating and set a $11.00 price objective on shares of Rivian Automotive in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.61.

Rivian Automotive Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90. The firm has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $15.70. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of -1.54 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. On average, analysts anticipate that Rivian Automotive, Inc. will post -4.79 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the transaction, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the transaction, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the transaction, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Insiders have sold 54,306 shares of company stock valued at $717,274 over the last ninety days. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

A number of hedge funds have recently modified their holdings of the business. Simplicity Wealth LLC purchased a new position in shares of Rivian Automotive during the 1st quarter worth $245,000. Avitas Wealth Management LLC boosted its holdings in Rivian Automotive by 38.9% during the 1st quarter. Avitas Wealth Management LLC now owns 31,823 shares of the electric vehicle automaker’s stock valued at $348,000 after acquiring an additional 8,910 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Rivian Automotive by 5.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 36,080 shares of the electric vehicle automaker’s stock valued at $395,000 after acquiring an additional 1,842 shares during the period. Busey Bank purchased a new position in Rivian Automotive during the 1st quarter valued at about $221,000. Finally, Global Retirement Partners LLC boosted its holdings in Rivian Automotive by 64.3% during the 1st quarter. Global Retirement Partners LLC now owns 18,121 shares of the electric vehicle automaker’s stock valued at $198,000 after acquiring an additional 7,092 shares during the period. 66.25% of the stock is currently owned by hedge funds and other 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.