Rivian Automotive’s (RIVN) Buy Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Rivian Automotive (NASDAQ:RIVN) in a research report sent to investors on Monday,Benzinga reports. They currently have a $22.00 price objective on the electric vehicle automaker’s stock.

A number of other brokerages have also weighed in on RIVN. TD Cowen upped their target price on shares of Rivian Automotive from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rivian Automotive in a research report on Friday, October 2nd. Morgan Stanley increased their target price on Rivian Automotive from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Friday, July 31st. DA Davidson reduced their price target on Rivian Automotive from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, November 6th. Finally, Jefferies Financial Group raised Rivian Automotive from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Friday, October 30th. Fifteen analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.50.

Rivian Automotive Stock Performance

Shares of NASDAQ:RIVN opened at $13.54 on Monday. The stock’s 50-day moving average is $14.08 and its 200 day moving average is $15.37. Rivian Automotive has a 1 year low of $11.38 and a 1 year high of $22.69. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.70 and a current ratio of 2.18.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Thursday, October 29th. The electric vehicle automaker reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.16. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2 billion. Rivian Automotive had a negative net margin of 45.88% and a negative return on equity of 69.68%. Rivian Automotive’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period last year, the business earned ($1.08) EPS. On average, analysts anticipate that Rivian Automotive will post -2.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire McDonough sold 8,023 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the transaction, the chief financial officer owned 819,178 shares in the company, valued at approximately $13,106,848. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael John Callahan sold 15,000 shares of Rivian Automotive stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $15.00, for a total value of $225,000.00. Following the transaction, the insider directly owned 1,001,776 shares of the company’s stock, valued at $15,026,640. This trade represents a 1.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 51,167 shares of company stock worth $788,306. 1.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in RIVN. Advisors Asset Management Inc. acquired a new stake in shares of Rivian Automotive in the third quarter worth $713,000. Private Advisor Group LLC boosted its stake in Rivian Automotive by 15.0% during the 3rd quarter. Private Advisor Group LLC now owns 23,687 shares of the electric vehicle automaker’s stock valued at $354,000 after acquiring an additional 3,081 shares during the last quarter. Ieq Capital LLC boosted its stake in Rivian Automotive by 10.2% during the 3rd quarter. Ieq Capital LLC now owns 189,673 shares of the electric vehicle automaker’s stock valued at $2,834,000 after acquiring an additional 17,618 shares during the last quarter. Valueworks LLC grew its holdings in Rivian Automotive by 0.7% during the 3rd quarter. Valueworks LLC now owns 1,254,221 shares of the electric vehicle automaker’s stock worth $18,738,000 after acquiring an additional 8,638 shares in the last quarter. Finally, Landscape Capital Management L.L.C. increased its position in shares of Rivian Automotive by 7.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 32,461 shares of the electric vehicle automaker’s stock worth $485,000 after purchasing an additional 2,370 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive News Roundup

Investors following RIVN have been watching these news items:

• Positive Sentiment: Rivian’s upgraded electric delivery vans offer improved range and options, potentially making them more attractive for fleet buyers and opening the door to another large order. That opportunity is speculative; no new deal was announced. Article: Rivian’s Vans Got a Serious Upgrade
• Positive Sentiment: Stifel Nicolaus reaffirmed its Buy rating, while a separate analyst roundup reported a consensus price target of $19.50. These views may support sentiment, though analyst opinions are not guarantees of performance. Article: Stifel Nicolaus Reaffirms Buy Rating Article: Rivian consensus target price
• Negative Sentiment: Despite a 58% quarter-over-quarter increase in deliveries, automotive gross profit did not rise alongside them. Rivian is absorbing substantial upfront costs to launch new vehicles, and production efficiencies from additional shifts have yet to materialize—raising questions about the pace of margin improvement. Article: Rivian’s Deliveries Jumped 58%. Why Didn’t Gross Profit Follow?

About Rivian Automotive

Rivian Automotive, Inc. designs, develops and manufactures electric vehicles and related technology. Its consumer lineup includes the R1T electric pickup truck and R1S electric sport utility vehicle, while its commercial offerings include electric delivery vans and fleet services. Founded in 2009 by RJ Scaringe, the company began delivering its R1T and R1S vehicles in 2021. Rivian also develops vehicle software, charging solutions and services intended to support its consumer and commercial customers.