Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert J. Scaringe sold 83,333 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 886,526 shares of the company's stock, valued at $12,127,675.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Rivian Automotive Stock Performance
Shares of RIVN traded down $0.30 during mid-day trading on Monday, hitting $13.20. The company's stock had a trading volume of 18,772,813 shares, compared to its average volume of 40,360,758. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.87. The stock's 50-day moving average is $14.85 and its two-hundred day moving average is $12.29. The firm has a market capitalization of $13.31 billion, a PE ratio of -2.32 and a beta of 2.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -4.92 EPS for the current year.
Hedge Funds Weigh In On Rivian Automotive
Several large investors have recently added to or reduced their stakes in RIVN. Principal Securities Inc. acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $33,000. Fairman Group LLC acquired a new position in Rivian Automotive in the fourth quarter worth about $36,000. Quent Capital LLC lifted its stake in Rivian Automotive by 74.3% during the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock worth $26,000 after purchasing an additional 831 shares during the period. Creekmur Asset Management LLC acquired a new stake in Rivian Automotive during the fourth quarter valued at approximately $51,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Rivian Automotive by 552.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 2,610 shares of the electric vehicle automaker's stock valued at $61,000 after purchasing an additional 2,210 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on RIVN. Barclays boosted their price target on shares of Rivian Automotive from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Tuesday, July 16th. UBS Group dropped their target price on Rivian Automotive from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Rivian Automotive from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Monday, July 1st. DA Davidson increased their price objective on Rivian Automotive from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, June 28th. Finally, Needham & Company LLC decreased their target price on shares of Rivian Automotive from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Rivian Automotive currently has an average rating of "Hold" and an average price target of $18.09.
View Our Latest Stock Analysis on RIVN
About Rivian Automotive
(
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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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