Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shares fell 1.8% on Monday . The company traded as low as $11.89 and last traded at $12.33. 10,914,188 shares changed hands during trading, a decline of 70% from the average session volume of 36,729,727 shares. The stock had previously closed at $12.56.
Wall Street Analyst Weigh In
Several research firms recently issued reports on RIVN. Barclays lifted their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 22nd. Mizuho cut their price target on Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Bank of America lowered Rivian Automotive from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $20.00 to $13.00 in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $13.00 target price on shares of Rivian Automotive in a research report on Monday, January 6th. Finally, Needham & Company LLC decreased 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 report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive currently has a consensus rating of "Hold" and an average target price of $15.13.
View Our Latest Analysis on Rivian Automotive
Rivian Automotive Price Performance
The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of -2.29 and a beta of 2.04. The company has a 50-day simple moving average of $13.51 and a two-hundred day simple moving average of $12.74.
Insider Buying and Selling
In related news, CEO Robert J. Scaringe sold 83,334 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of the business'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 transaction, the chief financial officer now owns 351,900 shares of the company's stock, valued at $5,278,500. This trade represents a 4.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 363,142 shares of company stock valued at $4,958,860 in the last quarter. Company insiders own 2.51% of the company's stock.
Hedge Funds Weigh In On Rivian Automotive
Large investors have recently bought and sold shares of the stock. John G Ullman & Associates Inc. boosted its holdings in shares of Rivian Automotive by 9.1% in the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker's stock valued at $135,000 after acquiring an additional 1,000 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in Rivian Automotive by 63.2% in the third 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 period. RFG Holdings Inc. boosted its stake in Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock valued at $296,000 after purchasing an additional 1,096 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Rivian Automotive by 4.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock valued at $354,000 after purchasing an additional 1,160 shares during the period. Finally, Freestone Capital Holdings LLC increased its position in shares of Rivian Automotive by 4.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker's stock valued at $390,000 after purchasing an additional 1,164 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.
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.
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