Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price shot up 2.4% on Monday . The stock traded as high as $12.91 and last traded at $12.79. 7,519,202 shares were traded during trading, a decline of 77% from the average session volume of 33,147,938 shares. The stock had previously closed at $12.48.
Analyst Ratings Changes
A number of research analysts have issued reports on RIVN shares. Baird R W lowered shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Truist Financial lifted their price target on Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. Bank of America downgraded Rivian Automotive from a "buy" rating to a "neutral" rating and dropped their price target for the company from $20.00 to $13.00 in a research note on Friday, November 8th. The Goldman Sachs Group raised their price objective on Rivian Automotive from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC dropped their target price on Rivian Automotive from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Rivian Automotive has an average rating of "Hold" and a consensus price target of $15.13.
View Our Latest Analysis on Rivian Automotive
Rivian Automotive Trading Up 6.6 %
The company has a market capitalization of $13.57 billion, a PE ratio of -2.38 and a beta of 2.04. The company has a 50 day simple moving average of $13.55 and a 200 day simple moving average of $12.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.
Insider Buying and Selling at Rivian Automotive
In other news, CFO Claire Mcdonough sold 8,097 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the sale, the chief financial officer now owns 370,401 shares of the company's stock, valued at $4,518,892.20. This represents a 2.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 363,142 shares of company stock worth $4,958,860. Corporate insiders own 2.51% of the company's stock.
Institutional Investors Weigh In On Rivian Automotive
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIVN. Baillie Gifford & Co. lifted its position in Rivian Automotive by 52.5% in the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker's stock valued at $565,012,000 after buying an additional 17,341,786 shares during the last quarter. Norges Bank purchased a new position in shares of Rivian Automotive during the 4th quarter worth approximately $123,308,000. Charles Schwab Investment Management Inc. raised its position in Rivian Automotive by 79.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker's stock valued at $51,693,000 after purchasing an additional 2,035,831 shares during the period. Groupama Asset Managment purchased a new stake in Rivian Automotive in the fourth quarter valued at approximately $26,600,000. Finally, Quinn Opportunity Partners LLC lifted its stake in Rivian Automotive by 4,042.1% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,242,641 shares of the electric vehicle automaker's stock worth $16,527,000 after purchasing an additional 1,212,641 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.
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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