Rivian Automotive (NASDAQ:RIVN) Receives "Neutral" Rating from Robert W. Baird

Robert W. Baird restated their neutral rating on shares of Rivian Automotive (NASDAQ:RIVN - Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. Robert W. Baird currently has a $16.00 price objective on the electric vehicle automaker's stock, down from their previous price objective of $18.00.

Several other research analysts have also issued reports on the stock. Guggenheim cut their target price on shares of Rivian Automotive from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Wedbush reissued an "outperform" rating and set a $20.00 price objective on shares of Rivian Automotive in a research report on Friday, November 8th. Morgan Stanley lowered Rivian Automotive from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $16.00 to $13.00 in a research report on Wednesday, September 25th. The Goldman Sachs Group upped their price target on Rivian Automotive from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Finally, Barclays reduced their price objective on Rivian Automotive from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Rivian Automotive presently has a consensus rating of "Hold" and an average price target of $15.74.

Rivian Automotive Trading Down 11.2 %

RIVN traded down $1.64 during trading on Wednesday, hitting $13.06. The company's stock had a trading volume of 56,486,289 shares, compared to its average volume of 40,056,395. The firm has a market capitalization of $13.33 billion, a P/E ratio of -2.33 and a beta of 2.12. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $24.61. The stock's fifty day moving average price is $11.26 and its 200-day moving average price is $12.74. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the sale, the chief financial officer now directly owns 351,900 shares of the company's stock, 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 SEC, which is available through this link. Also, CEO Robert J. Scaringe sold 83,334 shares of the business's stock in a transaction on Monday, November 25th. The shares were 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 owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,904 shares of company stock worth $3,291,004. 2.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RIVN. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive during the 3rd quarter valued at approximately $28,000. GHP Investment Advisors Inc. raised its holdings 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 valued at $29,000 after acquiring an additional 1,002 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Rivian Automotive during the second quarter worth $37,000. First Horizon Advisors Inc. boosted its holdings in shares of Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker's stock worth $38,000 after acquiring an additional 670 shares during the period. Finally, American Capital Advisory LLC grew its position 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 purchasing an additional 2,111 shares in the last quarter. Institutional investors 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.