Rivian Automotive (NASDAQ:RIVN) Given Hold Rating at Deutsche Bank Aktiengesellschaft

Rivian Automotive (NASDAQ:RIVNGet Free Report)‘s stock had its “hold” rating reaffirmed by research analysts at Deutsche Bank Aktiengesellschaft in a research report issued on Tuesday, Benzinga reports. They presently have a $15.00 price target on the electric vehicle automaker’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 41.51% from the company’s previous close.

Several other equities research analysts also recently weighed in on RIVN. JPMorgan Chase & Co. downgraded Rivian Automotive from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $20.00 to $11.00 in a research report on Thursday, February 22nd. UBS Group reiterated a “sell” rating and issued a $8.00 price objective (down previously from $24.00) on shares of Rivian Automotive in a report on Friday, February 23rd. Needham & Company LLC reduced their target price on shares of Rivian Automotive from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Bank of America decreased their target price on shares of Rivian Automotive from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Finally, Morgan Stanley cut their target price on Rivian Automotive from $24.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.09.

Read Our Latest Stock Report on RIVN

Rivian Automotive Stock Down 4.4 %

Shares of NASDAQ RIVN traded down $0.49 during trading hours on Tuesday, hitting $10.60. 30,201,446 shares of the stock were exchanged, compared to its average volume of 42,859,746. The firm has a fifty day moving average price of $13.22 and a 200-day moving average price of $17.12. Rivian Automotive has a 12 month low of $10.05 and a 12 month high of $28.06. The company has a market cap of $10.36 billion, a PE ratio of -1.84 and a beta of 1.88. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. On average, sell-side analysts expect that Rivian Automotive will post -4.79 EPS for the current year.

Insiders Place Their Bets

In other news, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the sale, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the transaction, the chief financial officer now owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the transaction, the insider now directly owns 407,787 shares in the company, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,306 shares of company stock worth $717,274. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in Rivian Automotive by 35.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock worth $2,277,304,000 after buying an additional 25,550,489 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new stake in Rivian Automotive in the fourth quarter valued at approximately $228,175,000. Norges Bank acquired a new position in Rivian Automotive during the fourth quarter worth approximately $129,427,000. State Street Corp boosted its holdings in shares of Rivian Automotive by 145.5% in the 3rd quarter. State Street Corp now owns 9,064,249 shares of the electric vehicle automaker’s stock valued at $298,304,000 after purchasing an additional 5,371,852 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Rivian Automotive by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock valued at $1,602,629,000 after purchasing an additional 4,467,881 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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