Rivian Automotive (NASDAQ:RIVN) Stock Price Up 1.1% - What's Next?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shot up 1.1% during mid-day trading on Friday . The stock traded as high as $10.81 and last traded at $10.73. 6,067,590 shares changed hands during trading, a decline of 84% from the average session volume of 37,136,337 shares. The stock had previously closed at $10.61.

Wall Street Analysts Forecast Growth

RIVN has been the subject of a number of research reports. UBS Group increased their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Baird R W cut Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Barclays upped their price target on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 22nd. Mizuho increased their price target on shares of Rivian Automotive from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Finally, Cowen assumed coverage on shares of Rivian Automotive in a research note on Thursday, March 6th. They set a "hold" rating on the stock. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.73.

Rivian Automotive Stock Performance

The business's fifty day moving average price is $12.86 and its 200-day moving average price is $12.30. The stock has a market cap of $12.14 billion, a PE ratio of -2.27 and a beta of 2.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

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Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.06. The company had revenue of $1.73 billion for 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 forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $13.88, for a total value of $991,434.52. Following the sale, the chief executive officer now owns 863,361 shares of the company's stock, valued at approximately $11,983,450.68. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 203,928 shares of company stock valued at $3,013,134 over the last 90 days. Company insiders own 2.51% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of Rivian Automotive by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock valued at $63,055,000 after acquiring an additional 133,781 shares during the period. Mizuho Markets Americas LLC grew its holdings in Rivian Automotive by 30.7% during the third quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker's stock valued at $5,964,000 after purchasing an additional 124,950 shares during the period. SG Americas Securities LLC increased its position in Rivian Automotive by 42.7% in the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock worth $2,404,000 after buying an additional 54,053 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Rivian Automotive in the fourth quarter worth about $1,382,000. Finally, Alberta Investment Management Corp bought a new position in shares of Rivian Automotive in the fourth quarter worth about $6,648,000. 66.25% of the stock is currently owned by institutional investors.

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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