Rivian Automotive (NASDAQ:RIVN) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Rivian Automotive (NASDAQ:RIVN) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other research firms have also recently commented on RIVN. Evercore reissued an “outperform” rating on shares of Rivian Automotive in a research note on Monday, December 15th. Needham & Company LLC raised their price objective on shares of Rivian Automotive from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Morgan Stanley restated an “underweight” rating and issued a $12.00 target price on shares of Rivian Automotive in a research report on Monday, December 8th. Wolfe Research lowered Rivian Automotive from a “peer perform” rating to an “underperform” rating in a research note on Monday, January 12th. Finally, Canaccord Genuity Group reissued a “buy” rating on shares of Rivian Automotive in a research note on Monday, December 15th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, Rivian Automotive has a consensus rating of “Hold” and a consensus price target of $16.74.

Rivian Automotive Trading Up 7.9%

NASDAQ:RIVN opened at $14.81 on Friday. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of -4.76 and a beta of 1.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. Rivian Automotive has a 1 year low of $10.36 and a 1 year high of $22.69. The business has a fifty day moving average of $17.89 and a 200-day moving average of $15.27.

Insider Transactions at Rivian Automotive

In related news, Director Peter Krawiec sold 3,655 shares of Rivian Automotive stock in a transaction on Monday, December 15th. The stock was sold at an average price of $19.45, for a total value of $71,089.75. Following the transaction, the director directly owned 29,122 shares in the company, valued at $566,422.90. The trade was a 11.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 8,039 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $18.00, for a total value of $144,702.00. Following the sale, the chief financial officer directly owned 730,017 shares of the company’s stock, valued at approximately $13,140,306. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 172,504 shares of company stock valued at $3,012,734 in the last three months. 2.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Large investors have recently made changes to their positions in the company. Merit Financial Group LLC lifted its stake in shares of Rivian Automotive by 3.2% in the fourth quarter. Merit Financial Group LLC now owns 23,127 shares of the electric vehicle automaker’s stock valued at $456,000 after buying an additional 718 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Rivian Automotive by 36.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,764 shares of the electric vehicle automaker’s stock worth $54,000 after acquiring an additional 739 shares during the period. Prospera Financial Services Inc grew its holdings in shares of Rivian Automotive by 5.2% during the 3rd quarter. Prospera Financial Services Inc now owns 15,803 shares of the electric vehicle automaker’s stock worth $232,000 after purchasing an additional 775 shares in the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of Rivian Automotive by 7.7% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 10,874 shares of the electric vehicle automaker’s stock worth $160,000 after purchasing an additional 780 shares in the last quarter. Finally, Equitable Holdings Inc. increased its position in shares of Rivian Automotive by 5.8% during the third quarter. Equitable Holdings Inc. now owns 14,699 shares of the electric vehicle automaker’s stock valued at $216,000 after purchasing an additional 803 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Company Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.