Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Rivian Automotive, Inc. (NASDAQ:RIVN) has earned an average rating of “Moderate Buy” from the twenty-four ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $19.57.

RIVN has been the topic of several recent research reports. Needham & Company LLC lowered their target price on shares of Rivian Automotive from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Robert W. Baird dropped their price objective on shares of Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Truist Financial reissued a “hold” rating and issued a $10.00 target price (down from $11.00) on shares of Rivian Automotive in a research note on Thursday. Stifel Nicolaus dropped their price target on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, February 26th. Finally, DA Davidson reduced their price objective on Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd.

Insider Transactions at Rivian Automotive

In related news, CAO Jeff Baker sold 31,425 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Jeff Baker sold 31,425 shares of Rivian Automotive stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at $690,829.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the sale, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock worth $717,274 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Rivian Automotive by 35.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after purchasing an additional 25,550,489 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Rivian Automotive by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock worth $1,602,629,000 after buying an additional 4,467,881 shares during the period. Baillie Gifford & Co. raised its holdings in Rivian Automotive by 714.3% in the first quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock valued at $277,046,000 after acquiring an additional 22,194,018 shares in the last quarter. Morgan Stanley lifted its stake in Rivian Automotive by 14.0% in the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock worth $235,409,000 after acquiring an additional 1,193,650 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Rivian Automotive by 1,521.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after acquiring an additional 5,937,605 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Stock Up 2.4 %

RIVN opened at $10.07 on Monday. The company has a market cap of $9.84 billion, a PE ratio of -1.75 and a beta of 1.91. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $28.06. The company has a 50-day moving average price of $10.40 and a 200 day moving average price of $15.19. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. Sell-side analysts expect that Rivian Automotive will post -4.76 earnings per share for the current fiscal year.

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.