Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) shares traded down 1.8% during trading on Friday . The company traded as low as $12.48 and last traded at $12.57. 6,447,862 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 33,745,746 shares. The stock had previously closed at $12.80.
Analyst Ratings Changes
A number of research analysts have commented on the company. Mizuho decreased their price objective on Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Truist Financial increased their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Stifel Nicolaus decreased their price objective on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 22nd. Finally, Wedbush reissued an "outperform" rating and issued a $20.00 price target on shares of Rivian Automotive in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $15.13.
Check Out Our Latest Analysis on Rivian Automotive
Rivian Automotive Stock Performance
The stock has a fifty day simple moving average of $13.55 and a 200-day simple moving average of $12.60. The stock has a market cap of $12.74 billion, a P/E ratio of -2.23 and a beta of 2.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.
Insiders Place Their Bets
In other news, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $13,960,547.37. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 18,501 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the transaction, the chief financial officer now owns 351,900 shares of the company's stock, valued at $5,278,500. The trade was a 4.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 363,142 shares of company stock worth $4,958,860. Corporate insiders own 2.51% of the company's stock.
Hedge Funds Weigh In On Rivian Automotive
Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker's stock worth $51,693,000 after purchasing an additional 2,035,831 shares during the period. International Assets Investment Management LLC grew its holdings in Rivian Automotive by 1,870.7% during the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker's stock worth $608,000 after purchasing an additional 51,464 shares during the period. Mizuho Markets Americas LLC grew its holdings in Rivian Automotive by 30.7% during the third quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker's stock worth $5,964,000 after purchasing an additional 124,950 shares during the period. Vontobel Holding Ltd. grew its holdings in Rivian Automotive by 543.8% during the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker's stock worth $1,601,000 after purchasing an additional 120,544 shares during the period. Finally, SG Americas Securities LLC grew its holdings in 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 during the period. Institutional investors 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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