Rivian Automotive (NASDAQ:RIVN) Stock Price Up 3.7% – Should You Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price traded up 3.7% during trading on Friday . The company traded as high as $13.07 and last traded at $12.95. 14,285,026 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 41,900,223 shares. The stock had previously closed at $12.49.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of Rivian Automotive in a report on Friday, November 8th. Stifel Nicolaus reduced their target price 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. Royal Bank of Canada cut their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Mizuho cut their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Rivian Automotive currently has a consensus rating of “Hold” and an average target price of $15.52.

Rivian Automotive Trading Up 3.8 %

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 company’s fifty day moving average is $13.09 and its 200-day moving average is $13.03. The firm has a market capitalization of $13.23 billion, a P/E ratio of -2.31 and a beta of 2.05.

Insider Activity at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, January 6th. The shares were 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 approximately $13,960,547.37. This represents a 7.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 363,142 shares of company stock worth $4,958,860 in the last ninety days. 2.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rivian Automotive

A number of hedge funds have recently added to or reduced their stakes in the stock. U.S. Capital Wealth Advisors LLC grew its holdings in Rivian Automotive by 33.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 21,994 shares of the electric vehicle automaker’s stock worth $293,000 after acquiring an additional 5,555 shares during the last quarter. Everett Harris & Co. CA boosted its stake in shares of Rivian Automotive by 41.1% in the 4th quarter. Everett Harris & Co. CA now owns 34,320 shares of the electric vehicle automaker’s stock valued at $456,000 after purchasing an additional 10,000 shares during the last quarter. Austin Private Wealth LLC boosted its stake in shares of Rivian Automotive by 44.9% in the 4th quarter. Austin Private Wealth LLC now owns 19,453 shares of the electric vehicle automaker’s stock valued at $259,000 after purchasing an additional 6,029 shares during the last quarter. Caprock Group LLC bought a new position in shares of Rivian Automotive in the 4th quarter valued at about $141,000. Finally, SOL Capital Management CO boosted its stake in Rivian Automotive by 77.5% during the 4th quarter. SOL Capital Management CO now owns 151,629 shares of the electric vehicle automaker’s stock worth $2,017,000 after acquiring an additional 66,225 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

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.