Shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) traded up 0.3% on Monday . The company traded as high as $11.98 and last traded at $11.24. 16,116,986 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 37,141,429 shares. The stock had previously closed at $11.21.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on RIVN shares. UBS Group dropped their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday. Barclays upped their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Benchmark reissued a "buy" rating and issued a $18.00 target price on shares of Rivian Automotive in a research note on Tuesday, March 18th. Wells Fargo & Company upped their price target on Rivian Automotive from $11.00 to $14.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC lifted their price objective on Rivian Automotive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.25.
View Our Latest Report on RIVN
Rivian Automotive Price Performance
The company has a fifty day moving average of $11.99 and a 200-day moving average of $12.06. The stock has a market cap of $12.97 billion, a PE ratio of -2.43 and a beta of 1.89. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly 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. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Sell-side analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at $9,596,373.75. This represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,427 shares of company stock worth $2,237,044 in the last ninety days. 2.51% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Rivian Automotive
A number of institutional investors and hedge funds have recently made changes to their positions in RIVN. Janus Henderson Group PLC lifted its stake in Rivian Automotive by 107.6% in the third quarter. Janus Henderson Group PLC now owns 86,241 shares of the electric vehicle automaker's stock worth $968,000 after acquiring an additional 44,700 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Rivian Automotive during the 3rd quarter worth $183,000. EP Wealth Advisors LLC purchased a new stake in shares of Rivian Automotive during the 3rd quarter worth $129,000. Orion Portfolio Solutions LLC grew its stake in shares of Rivian Automotive by 327.5% during the third quarter. Orion Portfolio Solutions LLC now owns 42,747 shares of the electric vehicle automaker's stock worth $480,000 after purchasing an additional 32,747 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Rivian Automotive by 12.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 218,673 shares of the electric vehicle automaker's stock valued at $2,454,000 after buying an additional 25,000 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.
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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