Rivian Automotive (NASDAQ:RIVN) Trading Up 4.4% - Still a Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) was up 4.4% during mid-day trading on Tuesday . The company traded as high as $12.18 and last traded at $11.70. Approximately 16,722,087 shares traded hands during trading, a decline of 55% from the average daily volume of 37,151,239 shares. The stock had previously closed at $11.21.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RIVN shares. Benchmark reaffirmed a "buy" rating and set a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Baird R W cut Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. TD Cowen began coverage on Rivian Automotive in a report on Friday, March 7th. They issued a "hold" rating and a $12.70 price target for the company. Cantor Fitzgerald lowered shares of Rivian Automotive from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $13.00 to $15.00 in a report on Friday, February 21st. Finally, UBS Group lowered their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday. Three 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $14.25.

Rivian Automotive Stock Up 0.1 %

The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $11.99 and a two-hundred day simple moving average of $12.05. The company has a market cap of $12.97 billion, a PE ratio of -2.43 and a beta of 1.89.

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Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. As a group, equities research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current 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 dated Wednesday, February 19th. The shares were 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. This represents a 2.01 % 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 35,713 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total transaction of $491,410.88. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,879,847.36. This trade represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock worth $2,237,044 in the last three months. 2.51% of the stock is owned by corporate insiders.

Institutional Trading of Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in the stock. Tandem Financial LLC acquired a new position in Rivian Automotive in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Rivian Automotive in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Rivian Automotive during the 3rd quarter worth approximately $28,000. Orion Capital Management LLC purchased a new stake in Rivian Automotive during the 4th quarter worth approximately $34,000. Finally, Bear Mountain Capital Inc. lifted its holdings in Rivian Automotive by 208.0% during the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after buying an additional 1,932 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

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.