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Mizuho Issues Pessimistic Forecast for Rivian Automotive (NASDAQ:RIVN) Stock Price

Rivian Automotive logo with Auto/Tires/Trucks background

Rivian Automotive (NASDAQ:RIVN - Get Free Report) had its price target decreased by Mizuho from $15.00 to $12.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the electric vehicle automaker's stock. Mizuho's price target would indicate a potential upside of 16.62% from the stock's current price.

RIVN has been the topic of several other reports. Wolfe Research began coverage on shares of Rivian Automotive in a research note on Thursday, September 5th. They set a "peer perform" rating on the stock. Morgan Stanley cut shares of Rivian Automotive from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $16.00 to $13.00 in a report on Wednesday, September 25th. Needham & Company LLC dropped their target price on shares of Rivian Automotive from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $14.00 target price on shares of Rivian Automotive in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group lowered their price target on Rivian Automotive from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $16.95.

Get Our Latest Stock Analysis on RIVN

Rivian Automotive Price Performance

Shares of RIVN stock traded up $0.11 during trading hours on Monday, reaching $10.29. The stock had a trading volume of 20,273,678 shares, compared to its average volume of 38,715,211. The stock's fifty day simple moving average is $11.75 and its 200 day simple moving average is $12.31. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81. Rivian Automotive has a 12 month low of $8.26 and a 12 month high of $24.61. The firm has a market capitalization of $10.38 billion, a PE ratio of -1.76 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing analysts' consensus estimates of ($1.25) by ($0.14). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. On average, equities research analysts predict that Rivian Automotive will post -4.84 EPS for the current year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of the company'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 value of $1,139,995.44. Following the completion of the transaction, the chief executive officer now directly owns 886,526 shares in the company, valued at $12,127,675.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Robert J. Scaringe sold 83,333 shares of the company'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 directly owns 886,526 shares of the company's stock, valued at $12,127,675.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the sale, the chief financial officer now directly owns 392,662 shares in the company, valued at $5,328,423.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,876 shares of company stock worth $2,153,551. 2.51% of the stock is owned by company insiders.

Institutional Trading of Rivian Automotive

A number of hedge funds and other institutional investors have recently bought and sold shares of RIVN. Norden Group LLC bought a new stake in shares of Rivian Automotive in the first quarter valued at about $132,000. Private Advisor Group LLC grew its stake in Rivian Automotive by 3.1% in the first quarter. Private Advisor Group LLC now owns 48,243 shares of the electric vehicle automaker's stock valued at $528,000 after purchasing an additional 1,432 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Rivian Automotive by 19.4% in the first quarter. Janney Montgomery Scott LLC now owns 171,243 shares of the electric vehicle automaker's stock valued at $1,875,000 after purchasing an additional 27,784 shares during the last quarter. Choreo LLC grew its stake in Rivian Automotive by 27.1% in the first quarter. Choreo LLC now owns 12,780 shares of the electric vehicle automaker's stock valued at $140,000 after purchasing an additional 2,724 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Rivian Automotive by 27.5% in the first quarter. Daiwa Securities Group Inc. now owns 76,544 shares of the electric vehicle automaker's stock valued at $838,000 after purchasing an additional 16,487 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.

About Rivian Automotive

(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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