Rivian Automotive (NASDAQ:RIVN) Stock Price Up 2.9%

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price rose 2.9% during trading on Thursday . The company traded as high as $14.32 and last traded at $14.23. Approximately 5,961,393 shares were traded during trading, a decline of 86% from the average daily volume of 41,488,840 shares. The stock had previously closed at $13.83.

Wall Street Analysts Forecast Growth

RIVN has been the subject of a number of research analyst reports. DA Davidson lifted their price target on Rivian Automotive from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, June 28th. Barclays boosted their price objective on Rivian Automotive from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 16th. Canaccord Genuity Group boosted their price objective on Rivian Automotive from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, July 1st. UBS Group reduced their price objective on Rivian Automotive from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Finally, Needham & Company LLC reduced their price objective on Rivian Automotive from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $18.14.

Rivian Automotive Trading Up 1.9 %

The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of -2.44 and a beta of 2.09. 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's 50-day simple moving average is $14.84 and its 200 day simple moving average is $12.34.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. Equities analysts expect that Rivian Automotive, Inc. will post -4.72 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.49, for a total transaction of $820,719.21. Following the completion of the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at $10,452,349.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the chief financial officer now owns 392,662 shares of the company's stock, valued at $5,328,423.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.49, for a total transaction of $820,719.21. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $10,452,349.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 488,926 shares of company stock worth $7,552,869. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Rivian Automotive

Several institutional investors have recently modified their holdings of RIVN. Principal Securities Inc. bought a new stake in Rivian Automotive during the fourth quarter valued at $33,000. Fairman Group LLC bought a new position in shares of Rivian Automotive in the fourth quarter valued at $36,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Rivian Automotive in the fourth quarter valued at $40,000. Private Wealth Management Group LLC bought a new position in shares of Rivian Automotive during the fourth quarter valued at about $44,000. Finally, Quent Capital LLC lifted its position in shares of Rivian Automotive by 74.3% during the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 831 shares in the last quarter. Institutional investors own 66.25% of the company's stock.

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.