Rivian Automotive (NASDAQ:RIVN) Stock Price Up 0.5% - Time to Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price shot up 0.5% during trading on Monday . The stock traded as high as $10.17 and last traded at $10.09. 4,841,985 shares were traded during mid-day trading, a decline of 88% from the average session volume of 39,359,777 shares. The stock had previously closed at $10.04.

Analyst Ratings Changes

Several brokerages have commented on RIVN. Needham & Company LLC dropped their price target on shares of Rivian Automotive from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Wolfe Research began coverage on shares of Rivian Automotive in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. UBS Group dropped their price target on shares of Rivian Automotive from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their price target on shares of Rivian Automotive from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 8th. Finally, DA Davidson increased their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive presently has an average rating of "Hold" and an average target price of $17.18.

Rivian Automotive Trading Down 0.1 %

The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $12.36 and a 200 day simple moving average of $12.26. The company has a market cap of $9.98 billion, a price-to-earnings ratio of -1.75 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results 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). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. On average, equities analysts anticipate that Rivian Automotive, Inc. will post -4.88 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 83,333 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the completion of the transaction, the chief executive officer now owns 886,526 shares in the company, valued at $10,319,162.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Claire Mcdonough sold 3,210 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the sale, the chief executive officer now owns 886,526 shares of the company's stock, valued at approximately $10,319,162.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 169,876 shares of company stock valued at $2,153,551. 2.30% of the stock is owned by company insiders.

Institutional Trading of Rivian Automotive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC increased its position in Rivian Automotive by 74.3% during the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker's stock valued at $29,000 after buying an additional 2,380 shares during the period. International Assets Investment Management LLC purchased a new stake in Rivian Automotive in the 2nd quarter valued at about $37,000. First Horizon Advisors Inc. grew its holdings in Rivian Automotive by 30.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker's stock valued at $38,000 after buying an additional 670 shares during the period. Finally, Blue Trust Inc. grew its holdings in Rivian Automotive by 39.0% in the 2nd quarter. Blue Trust Inc. now owns 3,230 shares of the electric vehicle automaker's stock valued at $43,000 after buying an additional 907 shares during the period. Hedge funds and other 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.