Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price rose 1.4% during trading 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. Approximately 15,451,670 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 40,658,148 shares. The stock had previously closed at $13.94.
RIVN has been the subject of a number of other reports. Royal Bank of Canada lowered their price target on Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Stifel Nicolaus decreased their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a report on Monday, November 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 target price on shares of Rivian Automotive in a report on Monday, January 6th. Guggenheim decreased their price target on shares of Rivian Automotive from $21.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Truist Financial increased their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $15.48.
Check Out Our Latest Analysis on Rivian Automotive
Insider Buying and Selling at Rivian Automotive
In related news, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the transaction, the chief executive officer now owns 863,361 shares of the company's stock, valued at $13,960,547.37. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the business's 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 completion of the sale, the chief financial officer now owns 378,498 shares in the company, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,429 shares of company stock valued at $4,467,450. Company insiders own 2.51% of the company's stock.
Institutional Trading of Rivian Automotive
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. John G Ullman & Associates Inc. increased its holdings in shares of Rivian Automotive by 9.1% in the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker's stock valued at $135,000 after buying an additional 1,000 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after acquiring an additional 1,002 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Rivian Automotive by 1.4% during the second quarter. Intech Investment Management LLC now owns 76,967 shares of the electric vehicle automaker's stock worth $1,033,000 after purchasing an additional 1,055 shares during the period. Tradition Wealth Management LLC lifted its holdings in shares of Rivian Automotive by 11.9% during the third quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker's stock valued at $132,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Regal Investment Advisors LLC boosted its position in shares of Rivian Automotive by 7.0% in the 2nd quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle automaker's stock valued at $262,000 after purchasing an additional 1,281 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.
Rivian Automotive Price Performance
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 stock has a market cap of $14.74 billion, a PE ratio of -2.58 and a beta of 2.05. The stock has a 50 day moving average of $12.89 and a two-hundred day moving average of $13.07.
Rivian Automotive Company Profile
(
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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