Mizuho Boosts Rivian Automotive (NASDAQ:RIVN) Price Target to $15.00

Rivian Automotive (NASDAQ:RIVN) had its target price upped by Mizuho from $11.00 to $15.00 in a research note released on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the electric vehicle automaker’s stock.

RIVN has been the subject of several other reports. Canaccord Genuity Group lifted their target price on Rivian Automotive from $20.00 to $30.00 and gave the stock a buy rating in a research note on Monday, July 1st. Morgan Stanley restated an overweight rating and issued a $13.00 price target on shares of Rivian Automotive in a research note on Wednesday, June 26th. DA Davidson boosted their price target on Rivian Automotive from $12.00 to $13.00 and gave the company a neutral rating in a research note on Friday, June 28th. Wedbush boosted their price target on Rivian Automotive from $15.00 to $20.00 and gave the company an outperform rating in a research note on Wednesday, June 26th. Finally, Truist Financial boosted their price target on Rivian Automotive from $10.00 to $13.00 and gave the company a hold rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $19.21.

Rivian Automotive Stock Up 8.1 %

RIVN stock opened at $18.11 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $11.96 and a two-hundred day moving average price of $12.89. The company has a market cap of $18.03 billion, a price-to-earnings ratio of -3.14 and a beta of 2.08. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.38) by ($0.03). Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Analysts anticipate that Rivian Automotive will post -4.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now owns 909,691 shares in the company, valued at approximately $10,234,023.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 214,287 shares of company stock worth $2,693,588 in the last 90 days. Insiders own 2.30% of the company’s stock.

Institutional Trading of Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in RIVN. Bear Mountain Capital Inc. bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $26,000. Quent Capital LLC boosted its holdings in Rivian Automotive by 74.3% in the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 2,380 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Rivian Automotive during the 4th quarter worth approximately $33,000. Finally, Benjamin Edwards Inc. bought a new position in shares of Rivian Automotive during the 1st quarter worth approximately $33,000. 66.25% of the stock is currently owned by 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.