Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price rose 0.5% during mid-day trading on Monday . The company traded as high as $10.94 and last traded at $10.81. Approximately 6,682,105 shares were traded during trading, a decline of 82% from the average daily volume of 36,931,864 shares. The stock had previously closed at $10.75.
Wall Street Analyst Weigh In
RIVN has been the topic of a number of analyst reports. UBS Group boosted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Needham & Company LLC boosted their price objective on Rivian Automotive from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Guggenheim decreased their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Baird R W lowered Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Finally, Bank of America lowered Rivian Automotive from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Rivian Automotive currently has an average rating of "Hold" and a consensus price target of $14.38.
View Our Latest Stock Report on Rivian Automotive
Rivian Automotive Price Performance
The company has a market capitalization of $12.30 billion, a PE ratio of -2.31 and a beta of 2.03. The firm has a fifty day moving average of $12.45 and a two-hundred day moving average of $12.19. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released 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. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.
Insider Buying and Selling at Rivian Automotive
In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at $13,960,547.37. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock valued at $2,735,619 in the last 90 days. Insiders own 2.51% of the company's stock.
Institutional Investors Weigh In On Rivian Automotive
Several hedge funds have recently made changes to their positions in the company. Tandem Financial LLC purchased a new position in Rivian Automotive during the fourth quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive in the 4th quarter worth about $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive in the 3rd quarter worth about $28,000. Hantz Financial Services Inc. grew its position in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock worth $34,000 after buying an additional 2,900 shares during the period. Finally, Orion Capital Management LLC purchased a new stake in shares of Rivian Automotive in the 4th quarter worth about $34,000. 66.25% of the stock is currently owned by institutional investors.
About Rivian Automotive
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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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