Mountain Hill Investment Partners Corp. Purchases New Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Mountain Hill Investment Partners Corp. acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 102,500 shares of the electric vehicle automaker's stock, valued at approximately $1,363,000. Rivian Automotive makes up 1.4% of Mountain Hill Investment Partners Corp.'s holdings, making the stock its 19th biggest holding.

Several other large investors have also made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new stake in Rivian Automotive during the fourth quarter worth about $10,448,000. American Century Companies Inc. raised its position in Rivian Automotive by 5.7% during the 4th quarter. American Century Companies Inc. now owns 182,654 shares of the electric vehicle automaker's stock worth $2,429,000 after buying an additional 9,884 shares during the last quarter. AllSquare Wealth Management LLC lifted its position in shares of Rivian Automotive by 8,794.1% during the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock valued at $40,000 after acquiring an additional 2,990 shares during the period. Royal London Asset Management Ltd. lifted its holdings in Rivian Automotive by 3.4% in the 4th quarter. Royal London Asset Management Ltd. now owns 344,614 shares of the electric vehicle automaker's stock valued at $4,583,000 after purchasing an additional 11,491 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Rivian Automotive by 11.3% during the 4th quarter. Xponance Inc. now owns 74,791 shares of the electric vehicle automaker's stock worth $995,000 after purchasing an additional 7,584 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen began coverage on shares of Rivian Automotive in a report on Friday, March 7th. They set a "hold" rating and a $12.70 price target for the company. Robert W. Baird reaffirmed a "neutral" rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Sanford C. Bernstein assumed coverage on shares of Rivian Automotive in a research note on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price on the stock. Cowen initiated coverage on Rivian Automotive in a report on Thursday, March 6th. They set a "hold" rating on the stock. Finally, Barclays upped their price target on Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Rivian Automotive has an average rating of "Hold" and an average price target of $14.38.

Rivian Automotive Stock Up 1.4 %

RIVN traded up $0.17 during trading on Tuesday, reaching $12.36. The company had a trading volume of 21,966,955 shares, compared to its average volume of 32,370,904. The company has a market cap of $13.98 billion, a P/E ratio of -2.62 and a beta of 2.03. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month 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 business's fifty day moving average price is $12.38 and its 200 day moving average price is $12.15.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.43 billion. Equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.17, for a total value of $1,155,006.93. Following the sale, the chief executive officer now owns 863,361 shares of the company's stock, valued at approximately $13,960,547.37. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,998 shares of company stock valued at $1,744,184. 2.51% of the stock is owned by insiders.

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.