Rivian Automotive (NASDAQ:RIVN) Shares Up 2.3%

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) shot up 2.3% during mid-day trading on Friday . The stock traded as high as $10.41 and last traded at $10.06. 22,669,840 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 41,686,633 shares. The stock had previously closed at $9.83.

Analyst Ratings Changes

Several brokerages recently commented on RIVN. Morgan Stanley dropped their price objective on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Jefferies Financial Group started coverage on Rivian Automotive in a research report on Thursday, March 7th. They issued a “buy” rating and a $16.00 price objective for the company. Robert W. Baird dropped their target price on shares of Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. DA Davidson cut their price target on shares of Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Finally, Mizuho reissued a “neutral” rating and set a $12.00 price objective on shares of Rivian Automotive in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.57.

Rivian Automotive Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. The firm has a fifty day moving average price of $10.40 and a 200 day moving average price of $15.19. The company has a market cap of $9.84 billion, a price-to-earnings ratio of -1.75 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. As a group, equities analysts predict that Rivian Automotive, Inc. will post -4.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Claire Mcdonough sold 2,946 shares of the 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 filing with the SEC, which is available through the SEC website. Also, CAO Jeff Baker sold 31,425 shares of Rivian Automotive stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the sale, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at $690,829.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,306 shares of company stock worth $717,274. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in Rivian Automotive by 8.2% in the 4th quarter. Federated Hermes Inc. now owns 8,559 shares of the electric vehicle automaker’s stock valued at $201,000 after buying an additional 651 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Rivian Automotive by 5.3% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 13,335 shares of the electric vehicle automaker’s stock worth $324,000 after acquiring an additional 668 shares in the last quarter. Laidlaw Wealth Management LLC increased its stake in Rivian Automotive by 7.5% in the fourth quarter. Laidlaw Wealth Management LLC now owns 10,263 shares of the electric vehicle automaker’s stock valued at $241,000 after acquiring an additional 718 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its stake in Rivian Automotive by 10.8% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 7,446 shares of the electric vehicle automaker’s stock worth $175,000 after purchasing an additional 727 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Rivian Automotive by 13.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,416 shares of the electric vehicle automaker’s stock valued at $156,000 after purchasing an additional 775 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

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.