Analysts Set Rivian Automotive, Inc. (NASDAQ:RIVN) Price Target at $15.83

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been given a consensus recommendation of “Hold” by the twenty-four research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.83.

Several analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Piper Sandler decreased their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, October 22nd. Stifel Nicolaus decreased their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, Wells Fargo & Company lowered their price target on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $15.34 on Tuesday. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive has a 12 month low of $8.26 and a 12 month high of $24.61. The stock has a market cap of $15.66 billion, a price-to-earnings ratio of -2.74 and a beta of 2.12. The company’s 50 day moving average is $11.18 and its two-hundred day moving average is $12.71.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,403 shares of company stock valued at $3,013,489. 2.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RIVN. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive during the 3rd quarter worth approximately $28,000. GHP Investment Advisors Inc. increased its stake in Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 1,002 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Rivian Automotive during the second quarter worth $37,000. First Horizon Advisors Inc. boosted its stake in shares of Rivian Automotive by 30.7% during the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock valued at $38,000 after purchasing an additional 670 shares during the period. Finally, 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 purchasing an additional 2,111 shares during the last quarter. Hedge funds and other 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.