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

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty-six ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $14.38.

Several brokerages recently issued reports on RIVN. Mizuho cut their price target on shares of Rivian Automotive from $13.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, March 17th. TD Cowen began coverage on shares of Rivian Automotive in a research note on Friday, March 7th. They issued a "hold" rating and a $12.70 target price for the company. Piper Sandler lowered Rivian Automotive from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $19.00 to $13.00 in a research report on Thursday. Truist Financial lifted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Finally, Sanford C. Bernstein began coverage on Rivian Automotive in a report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 target price on the stock.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $13,960,547.37. This trade represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were 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 of the company's stock, 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 $2,735,619. 2.51% of the stock is currently owned by company insiders.

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Institutional Investors Weigh In On Rivian Automotive

Large investors have recently modified their holdings of the business. Tandem Financial LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new position in Rivian Automotive in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive in the third quarter valued at approximately $28,000. Hantz Financial Services Inc. boosted its holdings in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock valued at $34,000 after buying an additional 2,900 shares during the period. Finally, Orion Capital Management LLC bought a new stake in shares of Rivian Automotive during the fourth quarter worth $34,000. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Price Performance

Shares of RIVN stock traded up $0.72 during trading hours on Thursday, hitting $11.60. The company had a trading volume of 36,590,831 shares, compared to its average volume of 36,995,409. Rivian Automotive has a 12 month low of $8.26 and a 12 month high of $18.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The firm's fifty day moving average is $12.41 and its 200 day moving average is $12.17. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of -2.46 and a beta of 2.03.

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

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.