Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Has Average Price Target of $19.50 According to Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been assigned an average rating of “Hold” from the twenty-six research firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $19.50.

RIVN has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Rivian Automotive in a research note on Monday, September 14th. They set a “hold” rating and a $18.00 price target on the stock. Yorkville Ives began coverage on shares of Rivian Automotive in a research report on Tuesday, October 6th. They set an “outperform” rating and a $20.00 target price on the stock. Cantor Fitzgerald cut their price target on shares of Rivian Automotive from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. DA Davidson decreased their price objective on Rivian Automotive from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, November 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $22.00 price objective on shares of Rivian Automotive in a research note on Monday, November 9th.

Rivian Automotive News Roundup

These are some of the RIVN news items that stood out recently:

• Positive Sentiment: UBS upgraded Rivian to Buy and sees potential for the shares to reach $17, citing the R2 SUV opportunity, improving production and software revenue. The price target was unchanged, however, and the bullish case depends on Rivian executing successfully. UBS Thinks Rivian Stock Can Hit $17. Is It a Buy?
• Positive Sentiment: Stifel Nicolaus also initiated a Buy view, adding another favorable analyst opinion that may bolster sentiment toward RIVN. Rivian Automotive Receives a Buy from Stifel Nicolaus
• Neutral Sentiment: CEO RJ Scaringe discussed Rivian’s strategy around self-driving technology, saying he does not expect robotaxis to eliminate private car ownership. The comments outline the company’s positioning but do not provide a clear near-term financial catalyst. Rivian CEO says robotaxis won’t end car ownership

Insiders Place Their Bets

In related news, insider Michael John Callahan sold 15,000 shares of Rivian Automotive stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the transaction, the insider directly owned 1,001,776 shares of the company’s stock, valued at $15,026,640. The trade was a 1.48% 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 8,023 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was 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 819,178 shares of the company’s stock, valued at approximately $13,106,848. This represents a 0.97% decrease in their ownership of the stock. 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 valued at $788,306. 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. Dimensional Fund Advisors LP raised its position in shares of Rivian Automotive by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 7,438,776 shares of the electric vehicle automaker’s stock worth $111,896,000 after purchasing an additional 25,382 shares during the period. Hsbc Holdings PLC raised its holdings in Rivian Automotive by 55.8% during the 1st quarter. Hsbc Holdings PLC now owns 3,097,836 shares of the electric vehicle automaker’s stock worth $46,625,000 after buying an additional 1,109,171 shares during the period. Bank of New York Mellon Corp acquired a new stake in Rivian Automotive during the 2nd quarter worth approximately $49,915,000. Swiss National Bank raised its holdings in Rivian Automotive by 8.2% during the 1st quarter. Swiss National Bank now owns 2,331,000 shares of the electric vehicle automaker’s stock worth $35,082,000 after buying an additional 176,500 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Rivian Automotive by 22.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,970,637 shares of the electric vehicle automaker’s stock valued at $29,441,000 after buying an additional 356,540 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ:RIVN traded down $0.62 during midday trading on Tuesday, reaching $12.18. The stock had a trading volume of 28,566,332 shares, compared to its average volume of 31,321,216. The stock has a market capitalization of $17.78 billion, a P/E ratio of -5.41 and a beta of 1.64. 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 current ratio of 2.18 and a quick ratio of 1.70. The firm’s fifty day simple moving average is $13.95 and its 200-day simple moving average is $15.33.

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

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.