Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $15.74 Average Price Target from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has been given an average rating of “Hold” by the twenty-five ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $15.48.

A number of equities analysts recently weighed in on the company. Barclays decreased their price target on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada decreased their price target on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Truist Financial reiterated a “hold” rating and issued a $12.00 price target on shares of Rivian Automotive in a research report on Friday, January 3rd. Bank of America downgraded Rivian Automotive from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $13.00 in a research note on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of Rivian Automotive in a research note on Friday, November 8th.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the sale, the chief financial officer now owns 351,900 shares of the company’s stock, valued at $5,278,500. This trade represents a 4.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,429 shares of company stock valued at $4,467,450. Corporate insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

Several institutional investors have recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Rivian Automotive by 12.1% during the 4th quarter. Nordea Investment Management AB now owns 63,074 shares of the electric vehicle automaker’s stock worth $901,000 after purchasing an additional 6,817 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $380,000. GAMMA Investing LLC grew its holdings in shares of Rivian Automotive by 82.6% during the 4th quarter. GAMMA Investing LLC now owns 8,893 shares of the electric vehicle automaker’s stock worth $118,000 after purchasing an additional 4,022 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Rivian Automotive by 72.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 89,764 shares of the electric vehicle automaker’s stock worth $994,000 after purchasing an additional 37,647 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Rivian Automotive by 28.8% during the 3rd quarter. Tidal Investments LLC now owns 268,952 shares of the electric vehicle automaker’s stock worth $3,018,000 after purchasing an additional 60,205 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Trading Down 2.5 %

NASDAQ:RIVN opened at $13.85 on Friday. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $19.12. The firm has a market capitalization of $14.14 billion, a price-to-earnings ratio of -2.47 and a beta of 2.05. The stock has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $13.05.

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.