TD Cowen initiated coverage on shares of Rivian Automotive (NASDAQ:RIVN - Free Report) in a report published on Friday, MarketBeat reports. The firm issued a hold rating and a $12.70 price target on the electric vehicle automaker's stock.
Several other research firms also recently weighed in on RIVN. Stifel Nicolaus reduced their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, November 11th. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a research note on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 price objective for the company. Mizuho boosted their target price on shares of Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Needham & Company LLC raised their price target on Rivian Automotive from $14.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Wedbush reiterated an "outperform" rating and set a $20.00 price objective on shares of Rivian Automotive in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.73.
Check Out Our Latest Stock Report on RIVN
Rivian Automotive Stock Performance
Shares of Rivian Automotive stock traded down $0.19 on Friday, reaching $10.78. 25,000,602 shares of the company traded hands, compared to its average volume of 37,458,571. The company has a 50 day moving average of $13.01 and a 200 day moving average of $12.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive has a 52 week low of $8.26 and a 52 week high of $18.86. The firm has a market capitalization of $12.18 billion, a PE ratio of -2.28 and a beta of 2.03.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.43 billion. Equities analysts forecast that Rivian Automotive will post -3.2 earnings per share for the current year.
Insider Activity at Rivian Automotive
In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of the company's stock in a transaction dated 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 directly owns 351,900 shares in the company, valued at $5,278,500. This represents a 4.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total value of $975,005.85. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,784,877.65. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,357 shares of company stock valued at $3,988,140. Corporate insiders own 2.51% of the company's stock.
Institutional Investors Weigh In On Rivian Automotive
Several institutional investors have recently bought and sold shares of RIVN. Tandem Financial LLC purchased a new position in Rivian Automotive in the 4th quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Rivian Automotive in the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive during the 3rd quarter valued at $28,000. Hantz Financial Services Inc. boosted its position in Rivian Automotive by 2,636.4% during the 3rd 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 Rivian Automotive in the 4th quarter worth $34,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.
About Rivian Automotive
(
Get 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.
See Also
Before you consider Rivian Automotive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rivian Automotive wasn't on the list.
While Rivian Automotive currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
