Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Rating of "Hold" by Brokerages

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-three research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.18.

A number of analysts have recently weighed in on RIVN shares. Mizuho raised their price target on shares of Rivian Automotive from $11.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, July 12th. Wolfe Research started coverage on shares of Rivian Automotive in a report on Thursday, September 5th. They issued a "peer perform" rating on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $19.00 price target on shares of Rivian Automotive in a report on Monday, September 30th. Canaccord Genuity Group lowered their price target on shares of Rivian Automotive from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, October 7th. Finally, Morgan Stanley cut shares of Rivian Automotive from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, September 25th.

Insider Activity

In other news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the completion of the transaction, the chief executive officer now directly owns 886,526 shares of the company's stock, valued at $12,127,675.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Claire Mcdonough sold 3,210 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the sale, the chief financial officer now owns 392,662 shares of the company's stock, valued at approximately $5,328,423.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the completion of the sale, the chief executive officer now directly owns 886,526 shares of the company's stock, valued at approximately $12,127,675.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 169,876 shares of company stock valued at $2,153,551 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. increased its holdings in Rivian Automotive by 543.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker's stock worth $1,601,000 after acquiring an additional 120,544 shares in the last quarter. Renaissance Capital LLC increased its holdings in Rivian Automotive by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker's stock worth $9,958,000 after acquiring an additional 148,197 shares in the last quarter. Private Advisory Group LLC purchased a new stake in Rivian Automotive in the 3rd quarter worth $2,109,000. Royal London Asset Management Ltd. increased its holdings in Rivian Automotive by 19.6% in the 2nd quarter. Royal London Asset Management Ltd. now owns 300,076 shares of the electric vehicle automaker's stock worth $4,027,000 after acquiring an additional 49,216 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Rivian Automotive by 102.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker's stock worth $33,276,000 after acquiring an additional 1,257,106 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Down 0.1 %

NASDAQ RIVN traded down $0.01 during trading on Monday, reaching $10.03. 17,267,410 shares of the company's stock traded hands, compared to its average volume of 39,420,855. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of -1.75 and a beta of 2.03. The company's 50 day simple moving average is $12.36 and its two-hundred day simple moving average is $12.26. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $24.61.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts' consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. As a group, sell-side analysts forecast that Rivian Automotive will post -4.88 EPS 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.