Recent Investment Analysts’ Ratings Updates for Rivian Automotive (RIVN)

Rivian Automotive (NASDAQ: RIVN) recently received a number of ratings updates from brokerages and research firms:

• 11/11/2024 – Rivian Automotive had its price target lowered by analysts at Stifel Nicolaus from $18.00 to $16.00. They now have a “buy” rating on the stock.
• 11/8/2024 – Rivian Automotive had its price target lowered by analysts at Royal Bank of Canada from $14.00 to $12.00. They now have a “sector perform” rating on the stock.
• 11/8/2024 – Rivian Automotive had its price target lowered by analysts at Piper Sandler from $21.00 to $19.00. They now have an “overweight” rating on the stock.
• 11/8/2024 – Rivian Automotive had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $20.00 price target on the stock.
• 11/8/2024 – Rivian Automotive had its price target lowered by analysts at Robert W. Baird from $20.00 to $18.00. They now have an “outperform” rating on the stock.
• 11/8/2024 – Rivian Automotive was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $13.00 price target on the stock, down previously from $20.00.
• 11/8/2024 – Rivian Automotive had its price target lowered by analysts at Needham & Company LLC from $18.00 to $14.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Rivian Automotive had its price target lowered by analysts at Guggenheim from $21.00 to $18.00. They now have a “buy” rating on the stock.
• 11/4/2024 – Rivian Automotive had its price target lowered by analysts at Mizuho from $15.00 to $12.00. They now have a “neutral” rating on the stock.
• 10/22/2024 – Rivian Automotive had its price target lowered by analysts at JPMorgan Chase & Co. from $14.00 to $12.00. They now have an “underweight” rating on the stock.
• 10/16/2024 – Rivian Automotive had its price target lowered by analysts at Truist Financial Co. from $16.00 to $12.00. They now have a “hold” rating on the stock.
• 10/15/2024 – Rivian Automotive had its price target lowered by analysts at Barclays PLC from $16.00 to $13.00. They now have an “equal weight” rating on the stock.
• 10/15/2024 – Rivian Automotive had its price target lowered by analysts at Wells Fargo & Company from $15.00 to $11.00. They now have an “equal weight” rating on the stock.
• 10/8/2024 – Rivian Automotive had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $13.00 to $11.00. They now have a “neutral” rating on the stock.
• 10/7/2024 – Rivian Automotive had its price target lowered by analysts at Canaccord Genuity Group Inc. from $30.00 to $28.00. They now have a “buy” rating on the stock.
• 9/30/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/25/2024 – Rivian Automotive was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $13.00 price target on the stock, down previously from $16.00.
• 9/23/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/16/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.

Rivian Automotive Price Performance

Rivian Automotive stock traded up $1.45 during trading hours on Wednesday, hitting $12.03. 119,581,774 shares of the company traded hands, compared to its average volume of 39,308,938. The firm’s 50-day simple moving average is $11.25 and its two-hundred day simple moving average is $12.39. The firm has a market cap of $12.13 billion, a P/E ratio of -2.15 and a beta of 2.04. The company has a quick ratio of 4.01, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $24.61.

Insider Buying and Selling

In other news, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $12,127,675.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the sale, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the completion of the sale, the chief executive officer now owns 886,526 shares in the company, valued at $12,127,675.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,876 shares of company stock worth $2,153,551. 2.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its stake in shares of Rivian Automotive by 52.5% during the 3rd quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock worth $565,012,000 after acquiring an additional 17,341,786 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Rivian Automotive by 153.2% during the 2nd quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock worth $72,877,000 after acquiring an additional 3,285,867 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Rivian Automotive by 79.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after acquiring an additional 2,035,831 shares in the last quarter. Spirepoint Private Client LLC bought a new position in shares of Rivian Automotive during the 1st quarter worth approximately $15,635,000. Finally, AQR Capital Management LLC grew its stake in shares of Rivian Automotive by 102.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker’s stock worth $33,276,000 after acquiring an additional 1,257,106 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.