Mizuho Forecasts Strong Price Appreciation for Rivian Automotive (NASDAQ:RIVN) Stock

Rivian Automotive (NASDAQ:RIVN - Get Free Report) had its target price lifted by stock analysts at Mizuho from $11.00 to $13.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the electric vehicle automaker's stock. Mizuho's price target points to a potential upside of 0.23% from the stock's previous close.

Several other brokerages also recently issued reports on RIVN. Needham & Company LLC cut their target price on shares of Rivian Automotive from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. UBS Group increased their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Bank of America cut shares of Rivian Automotive from a "buy" rating to a "neutral" rating and decreased their price target for the company from $20.00 to $13.00 in a report on Friday, November 8th. Cantor Fitzgerald cut shares of Rivian Automotive from an "overweight" rating to a "neutral" rating and upped their price target for the company from $13.00 to $15.00 in a report on Friday. Finally, Barclays upped their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $15.50.

Rivian Automotive Price Performance

RIVN traded down $0.64 during trading on Friday, reaching $12.97. The stock had a trading volume of 70,315,891 shares, compared to its average volume of 34,656,977. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of -2.32 and a beta of 2.04. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $18.85. The stock has a 50 day moving average of $13.56 and a two-hundred day moving average of $12.53.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data 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 72.78% and a negative net margin of 121.38%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. As a group, equities analysts anticipate that Rivian Automotive will post -4.7 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,097 shares of Rivian Automotive stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total value of $98,783.40. Following the sale, the chief financial officer now directly owns 370,401 shares in the company, valued at approximately $4,518,892.20. The trade was a 2.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive stock in a transaction on Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at $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. In the last three months, insiders have sold 366,788 shares of company stock worth $5,024,431. Insiders own 2.51% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Rivian Automotive by 79.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker's stock worth $51,693,000 after purchasing an additional 2,035,831 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Rivian Automotive by 1,870.7% during the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker's stock worth $608,000 after purchasing an additional 51,464 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Rivian Automotive by 30.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker's stock worth $5,964,000 after purchasing an additional 124,950 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Rivian Automotive by 42.7% during the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock worth $2,404,000 after purchasing an additional 54,053 shares during the last quarter. Finally, Alberta Investment Management Corp acquired a new position in Rivian Automotive in the 4th quarter valued at about $6,648,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.