Analysts Set Rivian Automotive, Inc. (NASDAQ:RIVN) Target Price at $15.52

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) have been given an average recommendation of "Hold" by the twenty-six research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $15.13.

Several brokerages have recently issued reports on RIVN. The Goldman Sachs Group lifted their price target on Rivian Automotive from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 target price on shares of Rivian Automotive in a report on Monday, January 6th. Royal Bank of Canada dropped their price target 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. Sanford C. Bernstein initiated coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price objective for the company. Finally, Stifel Nicolaus dropped their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, November 11th.

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Rivian Automotive Price Performance

Shares of Rivian Automotive stock traded up $0.48 on Wednesday, hitting $12.87. The company had a trading volume of 18,874,747 shares, compared to its average volume of 36,511,758. Rivian Automotive has a 52 week low of $8.26 and a 52 week high of $18.85. The company has a market cap of $13.14 billion, a PE ratio of -2.30 and a beta of 2.04. The business has a 50-day simple moving average of $13.48 and a 200-day simple moving average of $12.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the transaction, the chief financial officer now directly owns 351,900 shares in the company, valued at $5,278,500. This trade represents a 4.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at $9,712,811.25. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 363,142 shares of company stock valued at $4,958,860 in the last three months. Corporate insiders own 2.51% of the company's stock.

Institutional Trading of Rivian Automotive

A number of institutional investors and hedge funds have recently modified their holdings of RIVN. Tandem Financial LLC bought a new stake in shares of Rivian Automotive in the fourth quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive during the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive in the 3rd quarter valued at $28,000. GHP Investment Advisors Inc. lifted its position in Rivian Automotive by 63.2% during the 3rd 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 in the last quarter. Finally, Bear Mountain Capital Inc. grew its stake in shares of Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after purchasing an additional 1,932 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.