Rivian Automotive (NASDAQ:RIVN) Stock Price Down 4.5% - Time to Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) was down 4.5% during mid-day trading on Wednesday . The stock traded as low as $13.23 and last traded at $13.43. Approximately 15,456,843 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 39,915,270 shares. The stock had previously closed at $14.06.

Analyst Ratings Changes

Several analysts have recently issued reports on RIVN shares. Benchmark started coverage on shares of Rivian Automotive in a research note on Monday. They issued a "buy" rating and a $18.00 target price for the company. Piper Sandler reduced their target price on shares of Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $14.00 target price on shares of Rivian Automotive in a research note on Tuesday, September 10th. Royal Bank of Canada reduced their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Finally, Wedbush reiterated an "outperform" rating and issued a $20.00 target price on shares of Rivian Automotive in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.83.

Rivian Automotive Price Performance

The business's 50 day moving average is $10.87 and its two-hundred day moving average is $12.60. The firm has a market capitalization of $14.06 billion, a PE ratio of -2.40 and a beta of 2.12. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Insiders Place Their Bets

In related news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the transaction, the chief executive officer now directly owns 886,526 shares of the company's stock, valued at $12,127,675.68. The trade was a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Claire Mcdonough sold 8,097 shares of Rivian Automotive stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total transaction of $98,783.40. Following the completion of the transaction, the chief financial officer now directly owns 370,401 shares in the company, 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. Over the last ninety days, insiders have sold 261,307 shares of company stock valued at $3,178,479. 2.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

Several large investors have recently added to or reduced their stakes in RIVN. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive in the third quarter valued at $28,000. GHP Investment Advisors Inc. boosted its holdings in Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock valued at $29,000 after acquiring an additional 1,002 shares in the last quarter. American Capital Advisory LLC boosted its holdings in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock valued at $33,000 after acquiring an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock valued at $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Rivian Automotive in the second quarter valued at $37,000. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Company Profile

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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