Free Trial

Rivian Automotive (NASDAQ:RIVN) Trading 17.5% Higher - What's Next?

Rivian Automotive logo with Auto/Tires/Trucks background

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shares shot up 17.5% during trading on Wednesday . The stock traded as high as $13.10 and last traded at $12.43. 65,488,875 shares changed hands during mid-day trading, an increase of 68% from the average session volume of 39,063,605 shares. The stock had previously closed at $10.58.

Analyst Upgrades and Downgrades

Several brokerages have commented on RIVN. Truist Financial cut their price target on shares of Rivian Automotive from $16.00 to $12.00 and set a "hold" rating on the stock in a research report on Wednesday, October 16th. Wedbush reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Rivian Automotive in a report on Friday, November 8th. Piper Sandler dropped their target price on shares of Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Mizuho dropped their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Finally, Guggenheim decreased their price target on shares of Rivian Automotive from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Rivian Automotive currently has an average rating of "Hold" and a consensus price target of $15.68.

Get Our Latest Report on RIVN

Rivian Automotive Stock Up 13.0 %

The stock's 50-day moving average price is $11.25 and its two-hundred day moving average price is $12.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.01 and a current ratio of 5.09.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 3,210 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the transaction, the chief financial officer now directly owns 392,662 shares of the company's stock, valued at approximately $5,328,423.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Robert J. Scaringe sold 83,333 shares of the company's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the sale, the chief executive officer now owns 886,526 shares of the company's stock, valued at $10,319,162.64. This represents a 0.00 % decrease in their ownership of the stock. 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 Rivian Automotive stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares of the company's stock, valued at approximately $5,328,423.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,876 shares of company stock valued at $2,153,551. Company insiders own 2.51% of the company's stock.

Hedge Funds Weigh In On Rivian Automotive

Large investors have recently bought and sold shares of the business. Empowered Funds LLC purchased a new stake in Rivian Automotive in the 1st quarter worth $111,000. Forsta AP Fonden boosted its stake in Rivian Automotive by 14.2% during the 1st quarter. Forsta AP Fonden now owns 139,400 shares of the electric vehicle automaker's stock worth $1,526,000 after purchasing an additional 17,300 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Rivian Automotive by 127.1% in the first quarter. Bleakley Financial Group LLC now owns 22,357 shares of the electric vehicle automaker's stock valued at $245,000 after buying an additional 12,514 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Rivian Automotive by 14.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 501,055 shares of the electric vehicle automaker's stock worth $5,487,000 after buying an additional 62,199 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in Rivian Automotive by 21.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 12,109 shares of the electric vehicle automaker's stock valued at $133,000 after acquiring an additional 2,101 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.

Featured Articles

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should you invest $1,000 in Rivian Automotive right now?

Before you consider Rivian Automotive, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rivian Automotive wasn't on the list.

While Rivian Automotive currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The 10 Best AI Stocks to Own in 2024 Cover

Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

’Best Report in 2 Years’: NVIDIA Earnings Crushes Expectations Again
Palantir and the NASDAQ 100: What’s the Next Big Stock Swing for This AI Giant?
Rocket Lab Stock Explodes Higher—What’s Next for This Space Pioneer?

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines