Rivian Automotive (NASDAQ:RIVN) Given Neutral Rating at Robert W. Baird

Rivian Automotive (NASDAQ:RIVN)‘s stock had its “neutral” rating reaffirmed by Robert W. Baird in a report issued on Wednesday, Marketbeat reports. They currently have a $16.00 price target on the electric vehicle automaker’s stock, down from their previous price target of $18.00. Robert W. Baird’s price target would indicate a potential upside of 8.84% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Truist Financial lowered their price target on Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Morgan Stanley cut Rivian Automotive from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $16.00 to $13.00 in a report on Wednesday, September 25th. Piper Sandler cut their price objective on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.74.

Rivian Automotive Price Performance

RIVN stock opened at $14.70 on Wednesday. The business has a 50 day moving average price of $11.18 and a 200 day moving average price of $12.71. Rivian Automotive has a fifty-two week low of $8.26 and a fifty-two week high of $24.61. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of -2.63 and a beta of 2.12.

Insider Buying and Selling at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive stock in a transaction on Monday, November 25th. The shares were sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the transaction, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,403 shares of company stock valued at $3,013,489 in the last ninety days. Insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive in the 3rd quarter worth approximately $28,000. GHP Investment Advisors Inc. lifted its position in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 1,002 shares during the last quarter. American Capital Advisory LLC boosted its holdings in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after buying an additional 2,111 shares during the period. Hantz Financial Services Inc. grew its position in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after buying an additional 2,900 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Rivian Automotive during the second quarter worth about $37,000. Institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

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.