Rivian Automotive (NASDAQ:RIVN) Director Buys $11,050.00 in Stock

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) Director Jay Flatley purchased 1,250 shares of the stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $8.84 per share, for a total transaction of $11,050.00. Following the acquisition, the director directly owned 162,070 shares in the company, valued at approximately $1,432,698.80. This trade represents a 0.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock traded up $0.27 during trading on Thursday, reaching $15.19. The company’s stock had a trading volume of 27,648,360 shares, compared to its average volume of 30,787,961. Rivian Automotive, Inc. has a one year low of $10.36 and a one year high of $22.69. 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 stock has a 50-day moving average price of $16.73 and a two-hundred day moving average price of $15.63. The stock has a market capitalization of $18.85 billion, a P/E ratio of -4.95 and a beta of 1.75.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last released its earnings results 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. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative return on equity of 65.05% and a negative net margin of 67.68%.The company’s quarterly revenue was down 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.70) earnings per share. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RIVN has been the subject of several research analyst reports. Tigress Financial boosted their target price on Rivian Automotive from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Cantor Fitzgerald restated a “neutral” rating on shares of Rivian Automotive in a research note on Monday, February 9th. Zacks Research raised shares of Rivian Automotive from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Wolfe Research lowered Rivian Automotive from a “peer perform” rating to an “underperform” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rivian Automotive in a report on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.86.

View Our Latest Report on Rivian Automotive

Key Stories Impacting Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

Institutional Investors Weigh In On Rivian Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. boosted its stake in Rivian Automotive by 315.6% during the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock worth $25,000 after purchasing an additional 1,357 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 1,000 shares in the last quarter. Core Wealth Advisors LLC purchased a new position in Rivian Automotive in the fourth quarter valued at about $27,000. Mather Group LLC. acquired a new position in shares of Rivian Automotive during the 3rd quarter worth approximately $30,000. Finally, Hemington Wealth Management lifted its stake in shares of Rivian Automotive by 291.0% during the 3rd quarter. Hemington Wealth Management now owns 2,123 shares of the electric vehicle automaker’s stock worth $31,000 after purchasing an additional 1,580 shares during the period. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Rivian Automotive (NASDAQ:RIVN)

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