Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price traded down 2.9% on Thursday . The stock traded as low as $10.08 and last traded at $10.09. 6,128,698 shares changed hands during trading, a decline of 84% from the average session volume of 38,798,090 shares. The stock had previously closed at $10.39.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 22nd. Wedbush reissued an "outperform" rating and issued a $20.00 price target on shares of Rivian Automotive in a report on Wednesday, August 7th. Truist Financial cut their target price on shares of Rivian Automotive from $16.00 to $12.00 and set a "hold" rating on the stock in a research note on Wednesday, October 16th. Mizuho lifted their target price on shares of Rivian Automotive from $11.00 to $15.00 and gave the company a "neutral" rating in a research note on Friday, July 12th. Finally, Barclays dropped their price objective on shares of Rivian Automotive from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.09.
Get Our Latest Stock Report on Rivian Automotive
Rivian Automotive Stock Down 2.8 %
The company has a market cap of $10.18 billion, a PE ratio of -1.69 and a beta of 2.03. The company's 50 day moving average is $11.88 and its 200 day moving average is $12.27. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released 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 firm 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, analysts predict that Rivian Automotive, Inc. will post -4.84 earnings per share for the current fiscal year.
Insider Activity
In related news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the sale, the chief executive officer now owns 886,526 shares of the company's stock, valued at approximately $12,127,675.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive 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 directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the transaction, the chief executive officer now owns 886,526 shares of the company's stock, valued at approximately $12,127,675.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 169,876 shares of company stock valued at $2,153,551 in the last three months. 2.51% of the stock is currently owned by corporate insiders.
Institutional Trading of Rivian Automotive
Several institutional investors and hedge funds have recently made changes to their positions in RIVN. Assenagon Asset Management S.A. raised its stake in shares of Rivian Automotive by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker's stock worth $492,000 after buying an additional 604 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of 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 worth $38,000 after buying an additional 670 shares during the period. GAMMA Investing LLC raised its position in shares of Rivian Automotive by 28.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,470 shares of the electric vehicle automaker's stock worth $47,000 after buying an additional 760 shares during the period. Certuity LLC raised its position in shares of Rivian Automotive by 8.1% in the 2nd quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker's stock worth $145,000 after buying an additional 815 shares during the period. Finally, Sanders Morris Harris LLC lifted its stake in shares of Rivian Automotive by 8.9% during the second quarter. Sanders Morris Harris LLC now owns 10,105 shares of the electric vehicle automaker's stock worth $136,000 after purchasing an additional 823 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.
About Rivian Automotive
(
Get Free Report)
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.
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