EMC Capital Management raised its stake in Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report) by 2,066.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,500 shares of the electric vehicle automaker’s stock after acquiring an additional 6,200 shares during the quarter. EMC Capital Management’s holdings in Rivian Automotive were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Salem Investment Counselors Inc. increased its holdings in Rivian Automotive by 1,329.5% during the 1st quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker’s stock worth $32,000 after acquiring an additional 585 shares during the period. MCF Advisors LLC raised its holdings in Rivian Automotive by 396.8% in the 3rd quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Rivian Automotive by 1,537.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock worth $32,000 after purchasing an additional 1,245 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in Rivian Automotive by 281.7% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,355 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Rivian Automotive in the 3rd quarter worth $35,000. Institutional investors own 62.79% of the company’s stock.
Insider Buying and Selling
In related news, CFO Claire Mcdonough sold 3,265 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $17.08, for a total value of $55,766.20. Following the transaction, the chief financial officer now owns 173,030 shares in the company, valued at approximately $2,955,352.40. The sale was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Rivian Automotive Stock Performance
RIVN opened at $16.33 on Tuesday. Rivian Automotive, Inc. has a 52-week low of $11.68 and a 52-week high of $28.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.64 and a current ratio of 4.61. The firm’s 50-day moving average price is $18.89 and its 200-day moving average price is $19.78.
About Rivian Automotive
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.
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