Rivian Automotive (NASDAQ:RIVN) Trading Down 1.4% - Time to Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s share price fell 1.4% during mid-day trading on Tuesday . The stock traded as low as $10.48 and last traded at $10.80. 9,002,878 shares changed hands during trading, a decline of 76% from the average session volume of 37,399,604 shares. The stock had previously closed at $10.96.

Wall Street Analysts Forecast Growth

RIVN has been the topic of a number of research analyst reports. Benchmark assumed coverage on shares of Rivian Automotive in a report on Monday, December 9th. They issued a "buy" rating and a $18.00 price target on the stock. Barclays raised their price target on Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group upped their price objective on Rivian Automotive from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Baird R W cut Rivian Automotive from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, Sanford C. Bernstein started coverage on Rivian Automotive in a research note on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price for the company. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Rivian Automotive currently has a consensus rating of "Hold" and a consensus target price of $14.73.

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Rivian Automotive Trading Up 2.9 %

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 firm has a market capitalization of $12.56 billion, a PE ratio of -2.35 and a beta of 2.03. The stock's 50-day simple moving average is $12.96 and its 200-day simple moving average is $12.32.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, sell-side analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the sale, the chief executive officer now owns 863,361 shares of the company's stock, valued at $11,784,877.65. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,357 shares of company stock worth $3,988,140 in the last three months. Insiders own 2.51% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RIVN. Charles Schwab Investment Management Inc. lifted its stake in shares of Rivian Automotive by 79.2% during the 3rd 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 buying an additional 2,035,831 shares in the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of Rivian Automotive by 30.7% in the third quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker's stock worth $5,964,000 after acquiring an additional 124,950 shares during the period. SG Americas Securities LLC grew its position in shares of Rivian Automotive by 42.7% during the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock worth $2,404,000 after purchasing an additional 54,053 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Rivian Automotive during the 4th quarter valued at approximately $1,382,000. Finally, Alberta Investment Management Corp bought a new stake in Rivian Automotive during the 4th quarter valued at approximately $6,648,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Company Profile

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.