Rivian Automotive (NASDAQ:RIVN) Earns Underperform Rating from Analysts at Sanford C. Bernstein

Stock analysts at Sanford C. Bernstein began coverage on shares of Rivian Automotive (NASDAQ:RIVN) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an “underperform” rating and a $6.10 price target on the electric vehicle automaker’s stock. Sanford C. Bernstein’s price target would indicate a potential downside of 52.01% from the company’s current price.

RIVN has been the subject of a number of other reports. Royal Bank of Canada lowered their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Robert W. Baird reiterated a “neutral” rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Truist Financial lifted their target price on Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Stifel Nicolaus lowered their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of Rivian Automotive in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and an average target price of $15.13.

Rivian Automotive Price Performance

Shares of RIVN opened at $12.71 on Wednesday. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $18.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of -2.27 and a beta of 2.05. The business has a 50-day moving average of $13.30 and a 200-day moving average of $12.90.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 8,097 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the transaction, the chief financial officer now directly owns 370,401 shares of the company’s stock, valued at $4,518,892.20. This represents a 2.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 363,142 shares of company stock worth $4,958,860. 2.51% of the stock is currently owned by company insiders.

Institutional Trading of Rivian Automotive

A number of institutional investors and hedge funds have recently modified their holdings of RIVN. Tandem Financial LLC bought a new stake in shares of Rivian Automotive in the 4th quarter worth $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive in the 3rd quarter worth $28,000. GHP Investment Advisors Inc. boosted its stake 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 grew its holdings in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after acquiring an additional 2,111 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 2,900 shares during the period. 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.