Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price dropped 0.5% during trading on Wednesday . The stock traded as low as $11.20 and last traded at $11.21. Approximately 6,059,188 shares traded hands during trading, a decline of 84% from the average daily volume of 38,281,731 shares. The stock had previously closed at $11.26.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on RIVN shares. Mizuho raised their price objective on shares of Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. UBS Group raised their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Stifel Nicolaus lowered their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Benchmark assumed coverage on shares of Rivian Automotive in a research note on Monday, December 9th. They set a "buy" rating and a $18.00 target price for the company. Finally, Truist Financial upped their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $14.73.
View Our Latest Research Report on RIVN
Rivian Automotive Stock Performance
The stock has a market capitalization of $12.56 billion, a P/E ratio of -2.35 and a beta of 2.03. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $13.06 and a two-hundred day moving average price of $12.36.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings results 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. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Equities analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.
Insider Activity 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 transaction of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the sale, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at $11,784,877.65. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,357 shares of company stock worth $3,988,140 over the last 90 days. 2.51% of the stock is owned by company insiders.
Institutional Trading of Rivian Automotive
A number of hedge funds and other institutional investors have recently modified their holdings of RIVN. Baillie Gifford & Co. increased its stake in Rivian Automotive by 52.5% in the 3rd quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker's stock worth $565,012,000 after acquiring an additional 17,341,786 shares during the last quarter. Capital International Investors bought a new stake in shares of Rivian Automotive in the 4th quarter valued at about $144,030,000. Norges Bank purchased a new position in shares of Rivian Automotive in the 4th quarter valued at approximately $123,308,000. Northern Trust Corp raised its position in Rivian Automotive by 68.5% during the 4th quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock worth $96,275,000 after buying an additional 2,941,928 shares during the last quarter. Finally, Twinbeech Capital LP purchased a new stake in Rivian Automotive in the 4th quarter worth approximately $29,944,000. 66.25% of the stock is owned by hedge funds and other 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.
Featured Stories
Before you consider Rivian Automotive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rivian Automotive wasn't on the list.
While Rivian Automotive currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
