Nebula Research & Development LLC Makes New Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Nebula Research & Development LLC bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 53,711 shares of the electric vehicle automaker's stock, valued at approximately $714,000.

Other hedge funds have also added to or reduced their stakes in the company. Tandem Financial LLC bought a new stake in Rivian Automotive in the fourth quarter worth $25,000. Bank of Jackson Hole Trust bought a new stake in Rivian Automotive in the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive in the third quarter worth $28,000. Bear Mountain Capital Inc. boosted its holdings in Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after acquiring an additional 1,932 shares in the last quarter. Finally, AllSquare Wealth Management LLC boosted its holdings in Rivian Automotive by 8,794.1% in the fourth quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock worth $40,000 after acquiring an additional 2,990 shares in the last quarter. 66.25% of the stock is owned by institutional investors.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $11.82, for a total value of $844,290.78. Following the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at approximately $10,082,590.02. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,427 shares of company stock valued at $2,154,905. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Price Performance

Shares of NASDAQ:RIVN opened at $13.19 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1-year low of $8.84 and a 1-year high of $18.86. The company has a market capitalization of $14.91 billion, a P/E ratio of -2.79 and a beta of 1.89. The firm's 50 day simple moving average is $11.69 and its two-hundred day simple moving average is $12.15.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RIVN. Piper Sandler downgraded Rivian Automotive from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $19.00 to $13.00 in a report on Thursday, March 20th. Barclays upped their price target on Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Wednesday, January 22nd. TD Cowen began coverage on Rivian Automotive in a report on Friday, March 7th. They set a "hold" rating and a $12.70 price target on the stock. Mizuho lowered their price target on Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Benchmark reaffirmed a "buy" rating and set a $18.00 price target on shares of Rivian Automotive in a report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and an average price target of $14.08.

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.

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