Rivian Automotive (NASDAQ:RIVN) Shares Up 1.4% on Analyst Upgrade

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shot up 1.4% on Thursday after UBS Group raised their price target on the stock from $11.00 to $14.00. UBS Group currently has a neutral rating on the stock. Rivian Automotive traded as high as $14.54 and last traded at $14.13. 15,451,670 shares were traded during mid-day trading, a decline of 62% from the average session volume of 40,658,148 shares. The stock had previously closed at $13.94.

Other equities research analysts also recently issued reports about the stock. Truist Financial lifted their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Thursday. Barclays lowered their price objective on shares of Rivian Automotive from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada lowered their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Cantor Fitzgerald restated an "overweight" rating and set a $13.00 price objective on shares of Rivian Automotive in a research report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Rivian Automotive presently has an average rating of "Hold" and a consensus price target of $15.48.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the transaction, the chief executive officer now owns 863,361 shares of the company's stock, valued at $13,960,547.37. This represents a 7.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the transaction, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,429 shares of company stock valued at $4,467,450. 2.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MinichMacGregor Wealth Management LLC bought a new position in shares of Rivian Automotive during the 4th quarter worth about $133,000. SG Americas Securities LLC boosted its position in shares of Rivian Automotive by 42.7% during the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock worth $2,404,000 after purchasing an additional 54,053 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Rivian Automotive during the 4th quarter worth about $548,000. Grove Bank & Trust bought a new position in shares of Rivian Automotive during the 4th quarter worth about $62,000. Finally, Clarius Group LLC boosted its position in shares of Rivian Automotive by 25.3% during the 4th quarter. Clarius Group LLC now owns 47,679 shares of the electric vehicle automaker's stock worth $634,000 after purchasing an additional 9,633 shares in the last quarter. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Down 1.6 %

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 company has a market cap of $14.50 billion, a price-to-earnings ratio of -2.54 and a beta of 2.05. The stock's fifty day moving average is $12.89 and its two-hundred day moving average is $13.07.

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.