Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Recommendation of "Hold" by Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) have received a consensus recommendation of "Hold" from the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $15.73.

Several research firms have recently commented on RIVN. Truist Financial decreased their price objective on Rivian Automotive from $16.00 to $12.00 and set a "hold" rating on the stock in a research note on Wednesday, October 16th. Stifel Nicolaus dropped their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Monday. Royal Bank of Canada decreased their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Wedbush reissued an "outperform" rating and set a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. Finally, Barclays decreased their target price on 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.

Rivian Automotive Stock Performance

RIVN traded down $0.25 during trading on Friday, hitting $10.06. The company's stock had a trading volume of 79,079,386 shares, compared to its average volume of 39,674,785. Rivian Automotive has a one year low of $8.26 and a one year high of $24.61. The business's 50 day simple moving average is $11.09 and its 200-day simple moving average is $12.38. The company has a quick ratio of 4.01, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm has a market cap of $10.14 billion, a PE ratio of -1.80 and a beta of 2.04.

Insider Buying and Selling

In other news, CEO Robert J. Scaringe sold 83,333 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.51% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC increased its holdings in shares of Rivian Automotive by 74.3% during the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock valued at $26,000 after acquiring an additional 831 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after buying an additional 1,002 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Rivian Automotive by 975.4% during the first 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 last quarter. International Assets Investment Management LLC acquired a new position in shares of Rivian Automotive in the second quarter valued at about $37,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker's stock worth $38,000 after purchasing an additional 670 shares during the last quarter. 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.