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

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) has earned a consensus rating of "Hold" from the twenty-five brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $15.74.

Several equities analysts have weighed in on the company. Guggenheim lowered their target price on Rivian Automotive from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price objective on Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating for the company in a research report on Tuesday, October 22nd. Benchmark assumed coverage on Rivian Automotive in a report on Monday, December 9th. They set a "buy" rating and a $18.00 price target for the company. Baird R W lowered shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus lowered their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, November 11th.

Rivian Automotive Trading Up 24.5 %

Shares of Rivian Automotive stock traded up $3.24 during trading on Friday, hitting $16.49. The stock had a trading volume of 124,179,883 shares, compared to its average volume of 77,314,594. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $16.83 billion, a PE ratio of -2.94 and a beta of 2.12. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $20.30. The stock has a 50 day simple moving average of $12.18 and a 200 day simple moving average of $12.95.

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Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total transaction of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 18,501 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.00, for a total transaction of $277,515.00. Following the completion of the sale, the chief financial officer now owns 351,900 shares of the company's stock, valued at approximately $5,278,500. This represents a 4.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 256,000 shares of company stock worth $3,312,443. Insiders own 2.51% of the company's stock.

Institutional Trading of Rivian Automotive

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive during the third quarter worth about $28,000. GHP Investment Advisors Inc. boosted its holdings in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock valued at $29,000 after buying an additional 1,002 shares during the last quarter. American Capital Advisory LLC grew its stake in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock valued at $33,000 after buying an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock worth $34,000 after buying an additional 2,900 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Rivian Automotive during the second quarter worth $37,000. Institutional investors and hedge funds 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.