Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) saw unusually large options trading on Thursday. Stock traders bought 237,951 call options on the company. This represents an increase of 51% compared to the typical daily volume of 158,013 call options.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on RIVN shares. Robert W. Baird cut their price objective on Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Truist Financial cut 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. Wells Fargo & Company decreased their price objective on Rivian Automotive from $15.00 to $11.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 15th. UBS Group cut their target price on shares of Rivian Automotive from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley downgraded shares of Rivian Automotive from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $16.00 to $13.00 in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.73.
Check Out Our Latest Stock Analysis on RIVN
Rivian Automotive Stock Performance
Shares of RIVN traded up $0.67 during mid-day trading on Thursday, reaching $12.22. 48,609,797 shares of the company's stock were exchanged, compared to its average volume of 40,022,539. The business's fifty day simple moving average is $10.67 and its 200-day simple moving average is $12.45. Rivian Automotive has a 52-week low of $8.26 and a 52-week high of $24.61. The stock has a market capitalization of $12.47 billion, a PE ratio of -2.18 and a beta of 2.04. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.
Insiders Place Their Bets
In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $9,712,811.25. This represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 253,210 shares of company stock worth $3,079,695 over the last ninety days. Corporate insiders own 2.51% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC grew its holdings in shares of Rivian Automotive by 28.8% during the third quarter. Tidal Investments LLC now owns 268,952 shares of the electric vehicle automaker's stock worth $3,018,000 after buying an additional 60,205 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive in the third quarter valued at approximately $28,000. World Investment Advisors LLC raised its stake in shares of Rivian Automotive by 8.6% during the third quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker's stock worth $204,000 after purchasing an additional 1,446 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Rivian Automotive by 9.0% during the third quarter. Sanctuary Advisors LLC now owns 44,675 shares of the electric vehicle automaker's stock worth $457,000 after purchasing an additional 3,681 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Rivian Automotive during the third quarter worth $4,184,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.
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.
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