Rivian Automotive (NASDAQ:RIVN) Stock Price Down 1.8% – Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price fell 1.8% during mid-day trading on Friday . The stock traded as low as $14.91 and last traded at $15.33. 34,121,069 shares were traded during trading, an increase of 8% from the average session volume of 31,453,260 shares. The stock had previously closed at $15.61.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RIVN. Wolfe Research cut shares of Rivian Automotive from a “peer perform” rating to an “underperform” rating in a research report on Monday, January 12th. Wedbush restated an “outperform” rating and set a $25.00 price target on shares of Rivian Automotive in a research report on Friday, February 13th. The Goldman Sachs Group upped their price objective on Rivian Automotive from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Evercore restated an “outperform” rating on shares of Rivian Automotive in a research report on Monday, December 15th. Finally, Benchmark increased their price target on shares of Rivian Automotive from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.10.

Rivian Automotive Price Performance

The firm has a fifty day moving average of $17.11 and a two-hundred day moving average of $15.57. The company has a current ratio of 2.33, a quick ratio of 1.89 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $19.02 billion, a PE ratio of -4.99 and a beta of 1.76.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Thursday, February 12th. The electric vehicle automaker reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.02. Rivian Automotive had a negative return on equity of 65.05% and a negative net margin of 67.68%.The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company posted ($0.70) earnings per share. The business’s revenue was down 25.8% on a year-over-year basis. Research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 34,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $586,320.00. Following the completion of the transaction, the chief executive officer owned 1,044,731 shares of the company’s stock, valued at $17,551,480.80. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Claire Mcdonough sold 27,133 shares of Rivian Automotive stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total value of $455,834.40. Following the completion of the sale, the chief financial officer owned 680,836 shares in the company, valued at approximately $11,438,044.80. This represents a 3.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 164,737 shares of company stock valued at $2,922,209 in the last quarter. Insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RIVN. Brighton Jones LLC lifted its position in shares of Rivian Automotive by 28.0% in the 4th quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker’s stock worth $235,000 after purchasing an additional 3,864 shares during the period. AQR Capital Management LLC lifted its holdings in Rivian Automotive by 1.5% in the first quarter. AQR Capital Management LLC now owns 386,384 shares of the electric vehicle automaker’s stock worth $4,733,000 after buying an additional 5,590 shares during the period. Empowered Funds LLC boosted its position in Rivian Automotive by 10.1% during the 1st quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker’s stock valued at $679,000 after acquiring an additional 4,998 shares in the last quarter. Focus Partners Wealth boosted its position in Rivian Automotive by 29.0% during the 1st quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker’s stock valued at $803,000 after acquiring an additional 14,497 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Rivian Automotive by 57.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock worth $64,000 after acquiring an additional 1,856 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.