30,000 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by Ionic Capital Management LLC

Ionic Capital Management LLC acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 30,000 shares of the electric vehicle automaker’s stock, valued at approximately $399,000.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive in the third quarter valued at approximately $28,000. Nordea Investment Management AB increased its stake in shares of Rivian Automotive by 12.1% in the 4th quarter. Nordea Investment Management AB now owns 63,074 shares of the electric vehicle automaker’s stock worth $901,000 after acquiring an additional 6,817 shares during the last quarter. Green Alpha Advisors LLC raised its holdings in shares of Rivian Automotive by 15.4% during the 4th quarter. Green Alpha Advisors LLC now owns 61,893 shares of the electric vehicle automaker’s stock worth $823,000 after acquiring an additional 8,262 shares during the period. Claro Advisors LLC acquired a new position in shares of Rivian Automotive during the 4th quarter valued at about $147,000. Finally, Oak Thistle LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at about $316,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $11.46, for a total transaction of $409,270.98. Following the sale, the chief executive officer now owns 853,011 shares of the company’s stock, valued at approximately $9,775,506.06. This trade represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock valued at $2,154,905 in the last ninety days. Insiders own 2.51% of the company’s stock.

Analysts Set New Price Targets

RIVN has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Rivian Automotive in a research note on Tuesday, March 18th. Cowen started coverage on Rivian Automotive in a research note on Thursday, March 6th. They set a “hold” rating for the company. Wedbush decreased their price target on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Rivian Automotive from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, April 25th. Finally, The Goldman Sachs Group decreased their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.99.

Rivian Automotive Stock Up 4.2 %

RIVN stock opened at $14.26 on Friday. The company’s 50 day moving average price is $11.98 and its 200 day moving average price is $12.35. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of -3.02 and a beta of 1.86. Rivian Automotive, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $18.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. On average, equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

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.