Rivian Automotive (NASDAQ:RIVN) Stock Price Up 0.2% - Should You Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report)'s stock price traded up 0.2% during mid-day trading on Monday . The company traded as high as $11.43 and last traded at $11.20. 7,377,089 shares were traded during trading, a decline of 80% from the average session volume of 37,428,633 shares. The stock had previously closed at $11.17.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RIVN. Wells Fargo & Company boosted their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Truist Financial boosted their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a research note on Thursday, January 16th. 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. Robert W. Baird reiterated a "neutral" rating and issued a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Finally, UBS Group increased their target price on Rivian Automotive from $11.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Rivian Automotive currently has a consensus rating of "Hold" and an average target price of $14.73.

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Rivian Automotive Stock Up 2.5 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The company has a market cap of $12.51 billion, a PE ratio of -2.34 and a beta of 2.03. The business's 50 day moving average is $12.96 and its 200-day moving average is $12.32.

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

Insider Activity

In related news, CEO Robert J. Scaringe sold 35,713 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total value of $491,410.88. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at $11,879,847.36. The trade was a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $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 have sold 275,357 shares of company stock worth $3,988,140. 2.51% of the stock is currently owned by insiders.

Institutional Trading of Rivian Automotive

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tandem Financial LLC acquired a new position in Rivian Automotive during the fourth quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Rivian Automotive during the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rivian Automotive during the third quarter worth approximately $28,000. Orion Capital Management LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $34,000. Finally, Bear Mountain Capital Inc. raised its position 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. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.