Rivian Automotive (NASDAQ:RIVN) Trading 0.3% Higher

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price traded up 0.3% during trading on Monday . The stock traded as high as $14.34 and last traded at $14.13. 22,865,400 shares traded hands during trading, a decline of 45% from the average session volume of 41,466,625 shares. The stock had previously closed at $14.09.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Rivian Automotive from $13.00 to $16.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Mizuho lifted their price target on shares of Rivian Automotive from $11.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, July 12th. UBS Group lowered their price target on shares of Rivian Automotive from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lifted their price target on shares of Rivian Automotive from $13.00 to $17.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rivian Automotive from $10.00 to $14.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 26th. One equities research 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's stock. According to MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and an average price target of $18.14.

Rivian Automotive Stock Performance

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 stock's 50 day simple moving average is $14.98 and its two-hundred day simple moving average is $12.27. The stock has a market cap of $14.06 billion, a P/E ratio of -2.45 and a beta of 2.09.

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 for the quarter, missing analysts' consensus estimates of ($1.25) by ($0.14). The company 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%. As a group, research analysts forecast that Rivian Automotive, Inc. will post -4.72 EPS for the current year.

Insider Transactions at Rivian Automotive

In other 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. In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $17.02, for a total transaction of $1,215,721.58. Following the sale, the chief executive officer now directly owns 909,691 shares of the company's stock, valued at $15,482,940.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction 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. The disclosure for this sale can be found here. Insiders have sold a total of 488,926 shares of company stock valued at $7,552,869 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Rivian Automotive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in Rivian Automotive during the fourth quarter worth $33,000. Fairman Group LLC bought a new stake in Rivian Automotive during the fourth quarter worth $36,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Rivian Automotive in the fourth quarter valued at about $40,000. Private Wealth Management Group LLC bought a new position in shares of Rivian Automotive in the fourth quarter valued at about $44,000. Finally, Quent Capital LLC raised its position in shares of Rivian Automotive by 74.3% in 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 during the period. 66.25% of the stock is owned by institutional investors.

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.