Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shares traded down 0.9% during mid-day trading on Friday . The company traded as low as $13.76 and last traded at $14.08. 8,622,688 shares were traded during trading, a decline of 82% from the average session volume of 48,416,117 shares. The stock had previously closed at $14.21.
Analyst Ratings Changes
RIVN has been the topic of a number of recent research reports. Guggenheim reduced 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 report on Wednesday, November 6th. Needham & Company LLC decreased their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group raised their price objective on Rivian Automotive from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Mizuho decreased their target price on Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Finally, Barclays dropped their target price on Rivian Automotive from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.48.
Check Out Our Latest Analysis on Rivian Automotive
Rivian Automotive Price Performance
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 company has a 50 day moving average of $12.53 and a 200-day moving average of $13.05. The stock has a market capitalization of $14.14 billion, a P/E ratio of -2.47 and a beta of 2.05.
Insider Activity
In other news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders sold 327,429 shares of company stock valued at $4,467,450. Company insiders own 2.51% of the company's stock.
Institutional Investors Weigh In On Rivian Automotive
Large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its position in shares of Rivian Automotive by 12.1% during the fourth quarter. Nordea Investment Management AB now owns 63,074 shares of the electric vehicle automaker's stock worth $901,000 after acquiring an additional 6,817 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Rivian Automotive during the 4th quarter valued at about $380,000. GAMMA Investing LLC grew its position in Rivian Automotive by 82.6% in the 4th quarter. GAMMA Investing LLC now owns 8,893 shares of the electric vehicle automaker's stock worth $118,000 after purchasing an additional 4,022 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Rivian Automotive by 72.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 89,764 shares of the electric vehicle automaker's stock valued at $994,000 after purchasing an additional 37,647 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Rivian Automotive by 28.8% in the third quarter. Tidal Investments LLC now owns 268,952 shares of the electric vehicle automaker's stock valued at $3,018,000 after purchasing an additional 60,205 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.
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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