Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Has Average Price Target of $19.00

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been assigned an average rating of “Hold” from the twenty-eight brokerages that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $19.00.

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Rivian Automotive from a “buy” rating to an “underperform” rating in a research report on Tuesday, August 4th. TD Cowen boosted their price target on shares of Rivian Automotive from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada increased their price objective on Rivian Automotive from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Finally, Stifel Nicolaus set a $22.00 target price on Rivian Automotive in a research note on Monday, August 24th.

Rivian Automotive Trading Up 1.2%

Shares of RIVN opened at $15.47 on Monday. Rivian Automotive has a 1-year low of $12.39 and a 1-year high of $22.69. The company has a current ratio of 2.10, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $22.40 billion, a P/E ratio of -6.00 and a beta of 1.62. The business’s 50-day moving average price is $15.94 and its 200 day moving average price is $15.91.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.03. Rivian Automotive had a negative return on equity of 73.90% and a negative net margin of 54.96%.The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company earned ($0.97) earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. Analysts expect that Rivian Automotive will post -2.96 earnings per share for the current year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, insider Michael John Callahan sold 15,000 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $16.29, for a total transaction of $244,350.00. Following the transaction, the insider directly owned 1,016,776 shares of the company’s stock, valued at $16,563,281.04. This represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire McDonough sold 13,144 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $14.50, for a total value of $190,588.00. Following the sale, the chief financial officer owned 827,201 shares of the company’s stock, valued at approximately $11,994,414.50. This trade represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 56,167 shares of company stock valued at $963,306. 1.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Core Wealth Advisors LLC acquired a new position in Rivian Automotive in the 4th quarter valued at approximately $27,000. MCF Advisors LLC grew its position in Rivian Automotive by 3,500.0% during the 2nd quarter. MCF Advisors LLC now owns 1,800 shares of the electric vehicle automaker’s stock worth $31,000 after acquiring an additional 1,750 shares during the last quarter. MTM Investment Management LLC increased its stake in shares of Rivian Automotive by 115.0% in the fourth quarter. MTM Investment Management LLC now owns 2,150 shares of the electric vehicle automaker’s stock valued at $42,000 after buying an additional 1,150 shares in the last quarter. Ancora Advisors LLC acquired a new position in Rivian Automotive during the 2nd quarter worth $44,000. Finally, Oslo Pensjonsforsikring AS acquired a new stake in shares of Rivian Automotive during the 1st quarter worth approximately $39,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive News Summary

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

• Positive Sentiment: Rivian outperformed the broader market in the latest trading session, indicating continued investor interest in the electric-vehicle maker despite its history of volatility. Rivian Automotive Exceeds Market Returns
• Positive Sentiment: Some analysts view Rivian as potentially undervalued relative to the broader market and believe its long-term opportunity could improve if the company successfully scales production and executes on its upcoming vehicle lineup. Rivian vs. the S&P 500
• Neutral Sentiment: Rivian’s share performance was notable because the broader market declined, but the article provided limited new fundamental information to explain the move. Why the Market Dipped But Rivian Gained
• Neutral Sentiment: Recent commentary comparing Rivian with Tesla highlights its smaller valuation and potentially greater upside, but also its substantially higher execution and profitability risk. Tesla vs. Rivian
• Negative Sentiment: Rivian is facing a recall involving a rearview-camera software flaw. Although the company reportedly addressed the issue efficiently, recalls can add costs and increase investor concerns about vehicle quality. Rivian Rearview Camera Software Recall
• Negative Sentiment: A separate NHTSA filing identified a recall of 98,828 vehicles, including the R1S and R1T and the newer R2, reinforcing concerns about manufacturing reliability as Rivian expands. Rivian’s Largest Recall
• Negative Sentiment: Valuation analysis suggests RIVN may already reflect much of the expected sales growth, leaving limited room for upside unless revenue accelerates and the company makes progress toward profitability. Rivian Stock May Be Fully Priced on Sales Growth

About Rivian Automotive

Rivian Automotive, Inc designs, develops and manufactures electric vehicles and related technology. Its consumer vehicle lineup includes the R1T electric pickup truck and R1S electric SUV, which are designed for on-road and off-road use. The company also develops charging solutions, vehicle software and connected services intended to support the ownership and operation of its electric vehicles.

Rivian produces electric commercial vans for delivery and fleet applications, including vehicles developed through its relationship with Amazon.