Mountain Hill Investment Partners Corp. Purchases Shares of 102,500 Rivian Automotive, Inc. (NASDAQ:RIVN)

Mountain Hill Investment Partners Corp. acquired a new position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 102,500 shares of the electric vehicle automaker's stock, valued at approximately $1,363,000. Rivian Automotive accounts for 1.4% of Mountain Hill Investment Partners Corp.'s investment portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tandem Financial LLC bought a new position in shares of Rivian Automotive in the fourth quarter worth about $25,000. Bank of Jackson Hole Trust bought a new stake in Rivian Automotive during the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive during the third quarter valued at approximately $28,000. Hantz Financial Services Inc. boosted its position 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 purchasing an additional 2,900 shares during the period. Finally, Bear Mountain Capital Inc. increased its stake in shares of Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after purchasing an additional 1,932 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $13,960,547.37. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,427 shares of company stock valued at $2,588,475. Company insiders own 2.51% of the company's stock.

Rivian Automotive Trading Up 7.6 %

Rivian Automotive stock traded up $0.92 during trading hours on Thursday, hitting $13.02. The company had a trading volume of 62,126,515 shares, compared to its average volume of 36,951,481. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The firm has a market cap of $14.72 billion, a P/E ratio of -2.76 and a beta of 2.03. The company has a 50-day moving average price of $12.30 and a two-hundred day moving average price of $12.15. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. On average, sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America cut shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $13.00 to $10.00 in a research note on Monday, February 24th. Guggenheim dropped their price objective on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Mizuho cut their target price on Rivian Automotive from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Baird R W downgraded Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Finally, Truist Financial increased their price objective 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. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $14.38.

About Rivian Automotive

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.