Mizuho Markets Americas LLC boosted its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 30.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 531,568 shares of the electric vehicle automaker's stock after purchasing an additional 124,950 shares during the period. Mizuho Markets Americas LLC owned approximately 0.05% of Rivian Automotive worth $5,964,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Quent Capital LLC increased its holdings in Rivian Automotive by 74.3% in the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock worth $26,000 after buying an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker's stock valued at $29,000 after acquiring an additional 2,380 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in 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 worth $29,000 after purchasing an additional 1,002 shares during the last quarter. American Capital Advisory LLC boosted its position in Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock worth $33,000 after purchasing an additional 2,111 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Rivian Automotive during the second quarter valued at approximately $37,000. Institutional investors own 66.25% of the company's stock.
Rivian Automotive Stock Performance
Shares of RIVN stock traded down $0.25 during trading hours on Friday, hitting $10.06. The stock had a trading volume of 79,212,645 shares, compared to its average volume of 38,105,072. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.61. The company has a current ratio of 5.09, a quick ratio of 4.01 and a debt-to-equity ratio of 0.93. The stock's 50-day moving average price is $11.09 and its two-hundred day moving average price is $12.41.
Analysts Set New Price Targets
Several research analysts have commented on the company. Mizuho dropped their price target on Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $19.00 price target on shares of Rivian Automotive in a report on Monday, September 30th. UBS Group reduced their target price on shares of Rivian Automotive from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC dropped their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Finally, Canaccord Genuity Group decreased their target price on Rivian Automotive from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and an average target price of $15.73.
View Our Latest Analysis on RIVN
Insider Transactions at Rivian Automotive
In related news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the completion of the transaction, the chief executive officer now owns 886,526 shares in the company, valued at $10,319,162.64. The trade was a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.51% of the company's stock.
About Rivian Automotive
(
Free Report)
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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