Rivian Automotive (NASDAQ:RIVN) Stock Price Up 3.7% - Still a Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) traded up 3.7% during trading on Monday . The stock traded as high as $11.12 and last traded at $10.84. 13,084,347 shares traded hands during trading, a decline of 66% from the average session volume of 39,023,391 shares. The stock had previously closed at $10.45.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RIVN shares. Mizuho increased their price target on Rivian Automotive from $11.00 to $15.00 and gave the company a "neutral" rating in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $14.00 price objective on shares of Rivian Automotive in a research report on Tuesday, September 10th. UBS Group decreased 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. Wells Fargo & Company reduced their price objective on Rivian Automotive from $15.00 to $11.00 and set an "equal weight" rating for the company in a report on Tuesday, October 15th. Finally, Canaccord Genuity Group lowered their target price on Rivian Automotive from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $17.09.

Rivian Automotive Stock Up 3.9 %

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 firm has a 50 day moving average of $11.99 and a two-hundred day moving average of $12.27. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of -1.82 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted 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 analyst estimates 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, sell-side analysts anticipate that Rivian Automotive, Inc. will post -4.84 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In related 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 transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, 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 completion of the transaction, the chief financial officer now owns 392,662 shares of the company's stock, valued at $5,328,423.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total transaction of $969,996.12. Following the sale, the chief executive officer now owns 886,526 shares in the company, valued at approximately $10,319,162.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,876 shares of company stock worth $2,153,551. Corporate insiders own 2.51% of the company's stock.

Institutional Trading of Rivian Automotive

Several institutional investors have recently modified their holdings of RIVN. Vontobel Holding Ltd. lifted its holdings in Rivian Automotive by 543.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker's stock worth $1,601,000 after buying an additional 120,544 shares during the period. Renaissance Capital LLC lifted its stake in shares of Rivian Automotive by 20.0% in the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker's stock worth $9,958,000 after acquiring an additional 148,197 shares during the period. Private Advisory Group LLC bought a new stake in Rivian Automotive in the third quarter valued at approximately $2,109,000. Royal London Asset Management Ltd. increased its position in Rivian Automotive by 19.6% during the 2nd quarter. Royal London Asset Management Ltd. now owns 300,076 shares of the electric vehicle automaker's stock valued at $4,027,000 after purchasing an additional 49,216 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Rivian Automotive by 102.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker's stock worth $33,276,000 after purchasing an additional 1,257,106 shares during the last quarter. Institutional investors own 66.25% of the company's stock.

About Rivian Automotive

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.