Rivian Automotive (NASDAQ:RIVN) Stock Price Down 4.2% – Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price traded down 4.2% during trading on Thursday . The company traded as low as $16.36 and last traded at $16.46. 29,584,588 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 31,805,418 shares. The stock had previously closed at $17.18.

Trending Headlines about Rivian Automotive

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

• Negative Sentiment: Rivian is being flagged as unlikely to beat upcoming earnings expectations, with recent Zacks/Yahoo Finance coverage saying the company does not have the right setup for a likely earnings surprise. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
• Negative Sentiment: Broader EV sentiment is also weak after Tesla’s disappointing quarterly results and profit miss, which pressured the entire electric-vehicle group and weighed on Rivian as well. Tesla Slides 8% on Earnings Miss Despite Record Deliveries; Rivian, Lucid Slip
• Neutral Sentiment: Some recent commentary remains constructive on Rivian’s long-term prospects, highlighting reasons investors still believe the company could become a winner over time despite industry challenges. 3 Big Reasons to Believe in Rivian Stock Long-Term
• Neutral Sentiment: Another analysis noted Rivian has made progress on gross profitability, but compared it unfavorably with stronger EV peers, suggesting the company is still in a difficult competitive position. This Stock Is Crushing Both Lucid and Rivian in 1 Crucial Way
• Neutral Sentiment: Headlines describing a broader collapse in the U.S. EV industry add context for Rivian’s valuation pressure, but they are more sector commentary than company-specific catalysts. From $91B to $2.3B: The Catastrophic Collapse of America’s EV Industry

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RIVN. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Rivian Automotive in a research note on Wednesday, June 10th. BNP Paribas Exane raised their price objective on shares of Rivian Automotive from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. UBS Group upped their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a report on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and an average price target of $18.86.

Rivian Automotive Stock Performance

The stock has a 50-day simple moving average of $16.24 and a 200 day simple moving average of $16.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. The company has a market capitalization of $22.40 billion, a PE ratio of -5.64 and a beta of 1.60.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.05. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the business posted ($0.48) earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts anticipate that Rivian Automotive, Inc. will post -3.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,023 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the transaction, the chief financial officer directly owned 887,007 shares in the company, valued at approximately $14,192,112. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of Rivian Automotive stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the transaction, the director owned 110,000 shares of the company’s stock, valued at approximately $2,200,000. The trade was a 15.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 68,385 shares of company stock worth $1,125,094 in the last three months. Corporate insiders own 1.48% of the company’s stock.

Institutional Trading of Rivian Automotive

Large investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. raised its position in shares of Rivian Automotive by 113.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 1,000 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in Rivian Automotive during the 4th quarter valued at $27,000. SOA Wealth Advisors LLC. increased its position in Rivian Automotive by 894.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after buying an additional 1,395 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Rivian Automotive in the third quarter worth $31,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Rivian Automotive in the fourth quarter worth $33,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.