Rivian Automotive (NASDAQ:RIVN) Shares Up 1.6% - What's Next?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) rose 1.6% on Monday . The stock traded as high as $13.14 and last traded at $12.83. Approximately 9,774,551 shares were traded during trading, a decline of 73% from the average daily volume of 36,423,773 shares. The stock had previously closed at $12.62.

Analyst Ratings Changes

RIVN has been the topic of a number of research analyst reports. Mizuho lowered their price target on Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Piper Sandler lowered Rivian Automotive from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $19.00 to $13.00 in a report on Thursday, March 20th. Guggenheim lowered their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company increased their target price on Rivian Automotive from $11.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $14.08.

Rivian Automotive Price Performance

The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of -2.80 and a beta of 1.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The company has a 50-day moving average of $11.71 and a 200-day moving average of $12.13.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.69) by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the transaction, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,596,373.75. The trade was a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,427 shares of company stock worth $2,154,905. 2.51% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in the company. Tandem Financial LLC bought a new position in Rivian Automotive during the fourth quarter worth about $25,000. PFS Partners LLC grew its position in Rivian Automotive by 1,882.0% during the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock worth $25,000 after buying an additional 1,882 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in Rivian Automotive in the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive during the 3rd quarter valued at $28,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter worth $34,000. 66.25% of the stock is currently owned by institutional investors.

About Rivian Automotive

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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