Rivian Automotive, Inc. (NASDAQ:RIVN) Given Average Recommendation of “Hold” by Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have received a consensus rating of “Hold” from the twenty-five research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $14.87.

RIVN has been the subject of several research reports. Barclays increased their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price target on Rivian Automotive from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. UBS Group raised their price target on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Mizuho upped their price objective on Rivian Automotive from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Finally, Truist Financial raised their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, January 16th.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,357 shares of company stock valued at $3,988,140 in the last quarter. 2.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Rivian Automotive

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in shares of Rivian Automotive by 52.5% in the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after acquiring an additional 17,341,786 shares in the last quarter. Capital International Investors purchased a new position in Rivian Automotive during the 4th quarter valued at about $144,030,000. Norges Bank purchased a new position in Rivian Automotive during the 4th quarter valued at about $123,308,000. Northern Trust Corp raised its holdings in shares of Rivian Automotive by 68.5% in the 4th quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker’s stock valued at $96,275,000 after purchasing an additional 2,941,928 shares in the last quarter. Finally, Twinbeech Capital LP purchased a new stake in shares of Rivian Automotive in the 4th quarter worth approximately $29,944,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Stock Up 1.8 %

Shares of RIVN opened at $11.60 on Friday. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $18.85. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $11.84 billion, a PE ratio of -2.46 and a beta of 2.04. The business’s 50 day moving average is $13.39 and its 200 day moving average is $12.46.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Research analysts expect that Rivian Automotive will post -3.2 earnings per share for the current fiscal year.

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.