Rivian Automotive (NASDAQ:RIVN) Stock Price Up 5.7% - Should You Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shares traded up 5.7% during mid-day trading on Thursday . The stock traded as high as $13.31 and last traded at $13.20. 12,312,719 shares traded hands during trading, a decline of 62% from the average session volume of 32,252,244 shares. The stock had previously closed at $12.48.

Analyst Ratings Changes

Several analysts recently weighed in on RIVN shares. Baird R W cut shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Stifel Nicolaus dropped their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a research note on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 price target on the stock. Finally, Truist Financial increased their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and a consensus target price of $15.13.

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Rivian Automotive Trading Up 5.5 %

The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $13.59 and a 200 day simple moving average of $12.53. The company has a market cap of $14.32 billion, a price-to-earnings ratio of -2.51 and a beta of 2.04.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total transaction of $491,410.88. Following the completion of the transaction, the chief executive officer now owns 863,361 shares of the company's stock, valued at $11,879,847.36. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the transaction, the chief financial officer now directly owns 351,900 shares of the company's stock, valued at $5,278,500. This trade represents a 4.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 363,142 shares of company stock valued at $4,958,860. 2.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tandem Financial LLC acquired a new position in Rivian Automotive in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new position in Rivian Automotive in the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive in the 3rd quarter valued at about $28,000. GHP Investment Advisors Inc. raised its stake in 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 valued at $29,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Bear Mountain Capital Inc. raised its stake in Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after purchasing an additional 1,932 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

About Rivian Automotive

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.