Rivian Automotive (RIVN) Set to Announce Quarterly Earnings on Tuesday

Rivian Automotive (NASDAQ:RIVN) is set to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect Rivian Automotive to post earnings of ($1.13) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. On average, analysts expect Rivian Automotive to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $10.07 on Monday. 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 has a fifty-two week low of $8.26 and a fifty-two week high of $28.06. The business has a fifty day moving average of $10.40 and a 200-day moving average of $15.13. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of -1.75 and a beta of 1.91.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at $690,829.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 transaction of $414,181.50. Following the sale, the chief accounting officer now owns 52,415 shares in the company, valued at $690,829.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders sold 54,306 shares of company stock valued at $717,274 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

RIVN has been the subject of several analyst reports. Wells Fargo & Company cut their target price on shares of Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Evercore ISI reduced their price objective on shares of Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Bank of America lowered their target price on shares of Rivian Automotive from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Jefferies Financial Group initiated coverage on Rivian Automotive in a research note on Thursday, March 7th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Barclays decreased their price objective on Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

About Rivian Automotive

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.