Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) saw unusually large options trading activity on Friday. Stock investors purchased 251,557 call options on the company. This represents an increase of 32% compared to the typical daily volume of 190,193 call options.
Insiders Place Their Bets
In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the business's stock in a transaction dated Monday, November 18th. The shares were 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 $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business'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 transaction, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,429 shares of company stock worth $4,467,450 over the last three months. Company insiders own 2.51% of the company's stock.
Institutional Investors Weigh In On Rivian Automotive
Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive during the third quarter worth approximately $28,000. GHP Investment Advisors Inc. raised its stake in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after purchasing an additional 1,002 shares during the last quarter. American Capital Advisory LLC raised its position in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock worth $33,000 after acquiring an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. raised its position in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock worth $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Rivian Automotive in the third quarter worth $44,000. Hedge funds and other institutional investors own 66.25% of the company's stock.
Rivian Automotive Stock Performance
Shares of Rivian Automotive stock traded down $0.23 during trading hours on Friday, hitting $14.21. 64,966,337 shares of the company were exchanged, compared to its average volume of 33,747,016. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $18.85. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average of $12.96 and a 200-day moving average of $13.07. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of -2.54 and a beta of 2.05.
Analyst Ratings Changes
A number of equities analysts have recently commented on RIVN shares. Bank of America downgraded Rivian Automotive from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $20.00 to $13.00 in a research report on Friday, November 8th. Stifel Nicolaus lowered their price objective on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, November 11th. Wedbush reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. Royal Bank of Canada lowered their price target on Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price target on Rivian Automotive from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.48.
View Our Latest Analysis on RIVN
Rivian Automotive Company Profile
(
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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