Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price rose 5.5% on Friday . The stock traded as high as $13.93 and last traded at $14.03. Approximately 10,081,368 shares traded hands during trading, a decline of 69% from the average daily volume of 32,019,018 shares. The stock had previously closed at $13.30.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Rivian Automotive from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Piper Sandler dropped their price objective on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, November 8th. Sanford C. Bernstein started coverage on Rivian Automotive in a research report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price objective on the stock. Wedbush reiterated an "outperform" rating and issued a $20.00 price target on shares of Rivian Automotive in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their price target on Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating for the company in a research note on Tuesday, October 22nd. 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 MarketBeat.com, Rivian Automotive presently has an average rating of "Hold" and an average price target of $15.13.
View Our Latest Analysis on Rivian Automotive
Rivian Automotive Trading Down 3.5 %
The business has a fifty day simple moving average of $13.60 and a 200 day simple moving average of $12.53. 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 stock has a market cap of $14.22 billion, a price-to-earnings ratio of -2.49 and a beta of 2.04.
Insider Buying and Selling at Rivian Automotive
In related news, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Claire Mcdonough sold 8,097 shares of Rivian Automotive stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 370,401 shares of the company's stock, valued at approximately $4,518,892.20. The trade was a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 366,788 shares of company stock valued at $5,024,431 over the last three months. 2.51% of the stock is owned by company insiders.
Hedge Funds Weigh In On Rivian Automotive
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimension Capital Management LLC lifted its position in Rivian Automotive by 5.5% in the fourth quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker's stock worth $208,000 after purchasing an additional 819 shares during the period. Tradition Wealth Management LLC increased its stake in shares of Rivian Automotive by 7.2% in the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock worth $168,000 after acquiring an additional 849 shares during the last quarter. John G Ullman & Associates Inc. increased its stake 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 worth $135,000 after acquiring an additional 1,000 shares during the last quarter. GHP Investment Advisors Inc. increased its position in Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after buying an additional 1,002 shares during the last quarter. Finally, RFG Holdings Inc. boosted its holdings in Rivian Automotive by 5.2% during the fourth quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock valued at $296,000 after acquiring an additional 1,096 shares during the period. 66.25% of the stock is owned by institutional investors.
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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