Rivian Automotive (NASDAQ:RIVN) Trading 2% Higher

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shares traded up 2% on Thursday . The stock traded as high as $13.36 and last traded at $13.16. 7,438,039 shares traded hands during trading, a decline of 81% from the average session volume of 40,008,410 shares. The stock had previously closed at $12.90.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Rivian Automotive from $13.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, July 17th. Piper Sandler restated an "overweight" rating and set a $21.00 price target on shares of Rivian Automotive in a research note on Wednesday, June 26th. Truist Financial upped their price objective on Rivian Automotive from $13.00 to $16.00 and gave the company a "hold" rating in a research note on Friday, August 2nd. UBS Group decreased their target price on Rivian Automotive from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Finally, DA Davidson boosted their target price on Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $18.09.

Rivian Automotive Trading Up 1.9 %

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 has a market cap of $13.26 billion, a P/E ratio of -2.28 and a beta of 2.06. The firm's fifty day moving average price is $14.61 and its two-hundred day moving average price is $12.32.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its 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 return on equity of 65.40% and a negative net margin of 115.50%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. As a group, equities research analysts forecast that Rivian Automotive, Inc. will post -4.92 EPS for the current year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 392,662 shares of the company's stock, valued at approximately $5,328,423.34. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the firm's stock in a transaction dated 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 owns 392,662 shares in the company, valued at $5,328,423.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.97, for a total value of $1,069,292.13. Following the sale, the chief executive officer now directly owns 909,691 shares of the company's stock, valued at approximately $13,618,074.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,830 shares of company stock worth $7,872,145. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rivian Automotive by 35.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker's stock worth $2,277,304,000 after acquiring an additional 25,550,489 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rivian Automotive by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 69,539,602 shares of the electric vehicle automaker's stock worth $761,459,000 after acquiring an additional 1,226,357 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Rivian Automotive by 30.5% in the 2nd quarter. Baillie Gifford & Co. now owns 33,015,793 shares of the electric vehicle automaker's stock worth $443,072,000 after acquiring an additional 7,714,788 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rivian Automotive by 1,521.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker's stock worth $69,291,000 after acquiring an additional 5,937,605 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Rivian Automotive in the 4th quarter worth approximately $129,427,000. 66.25% of the stock is currently 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.