Rivian Automotive (NASDAQ:RIVN) Rating Reiterated by Cantor Fitzgerald

Rivian Automotive (NASDAQ:RIVN - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $19.00 price target on the electric vehicle automaker's stock. Cantor Fitzgerald's target price would indicate a potential upside of 69.34% from the stock's current price.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company lowered their price target on Rivian Automotive from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 7th. Truist Financial boosted their target price on Rivian Automotive from $13.00 to $16.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. DA Davidson raised their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, June 28th. Needham & Company LLC decreased their price objective on shares of Rivian Automotive from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $15.00 target price on shares of Rivian Automotive in a report on Friday, August 16th. One equities research 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.91.

Rivian Automotive Stock Down 3.3 %

RIVN traded down $0.38 during midday trading on Monday, reaching $11.22. The company's stock had a trading volume of 27,649,757 shares, compared to its average volume of 40,237,238. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $24.87. The stock's 50-day moving average is $13.91 and its 200-day moving average is $12.31. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of -1.94 and a beta of 2.06. 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 posted its quarterly earnings data 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 for 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 expect that Rivian Automotive will post -4.8 EPS for the current year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction on Monday, September 23rd. The shares were 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 directly owns 886,526 shares of the company's stock, valued at approximately $10,319,162.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rivian Automotive news, CEO Robert J. Scaringe sold 200,000 shares of the business's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $18.00, for a total transaction of $3,600,000.00. Following the transaction, the chief executive officer now owns 909,691 shares in the company, valued at $16,374,438. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the completion of the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. The disclosure for this sale can be found here. Insiders sold 512,734 shares of company stock worth $8,038,565 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rivian Automotive

Several hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake in Rivian Automotive by 74.3% in the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock worth $26,000 after acquiring an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker's stock worth $29,000 after purchasing an additional 2,380 shares in the last quarter. Benjamin Edwards Inc. bought a new position in Rivian Automotive in the first quarter worth approximately $33,000. Fairman Group LLC bought a new stake in Rivian Automotive during the 4th quarter valued at $36,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Rivian Automotive in the 2nd quarter worth $37,000. 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.