Rivian Automotive (NASDAQ:RIVN) Trading 0.3% Higher

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) rose 0.3% on Monday . The company traded as high as $10.50 and last traded at $10.10. Approximately 13,042,476 shares traded hands during trading, a decline of 69% from the average daily volume of 41,657,898 shares. The stock had previously closed at $10.07.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RIVN. Mizuho restated a “neutral” rating and issued a $12.00 target price on shares of Rivian Automotive in a research note on Monday, March 25th. Morgan Stanley decreased their price objective on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Jefferies Financial Group initiated coverage on Rivian Automotive in a research report on Thursday, March 7th. They set a “buy” rating and a $16.00 target price on the stock. UBS Group raised Rivian Automotive from a “sell” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Tuesday, April 16th. Finally, Robert W. Baird dropped their price objective on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rivian Automotive has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Rivian Automotive Trading Up 2.6 %

The company has a market cap of $10.10 billion, a PE ratio of -1.76 and a beta of 1.91. The company’s 50 day simple moving average is $10.40 and its two-hundred day simple moving average is $15.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping 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 company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -4.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Jeff Baker sold 31,425 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of 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 a total of 54,306 shares of company stock worth $717,274 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RIVN. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rivian Automotive by 35.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after acquiring an additional 25,550,489 shares during the period. Baillie Gifford & Co. grew its position in Rivian Automotive by 714.3% during the 1st quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock worth $277,046,000 after purchasing an additional 22,194,018 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Rivian Automotive by 1,521.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock valued at $69,291,000 after purchasing an additional 5,937,605 shares during the period. Norges Bank acquired a new stake in shares of Rivian Automotive during the fourth quarter worth about $129,427,000. Finally, Vanguard Group Inc. grew its holdings in shares of Rivian Automotive by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock worth $1,602,629,000 after buying an additional 4,467,881 shares during the last quarter. Hedge funds and other 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.