Bear Mountain Capital Inc. Buys 1,932 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Bear Mountain Capital Inc. raised its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 208.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,861 shares of the electric vehicle automaker’s stock after buying an additional 1,932 shares during the period. Bear Mountain Capital Inc.’s holdings in Rivian Automotive were worth $36,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Tandem Financial LLC bought a new position in Rivian Automotive in the fourth quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Rivian Automotive in the 4th quarter worth about $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rivian Automotive during the 3rd quarter valued at about $28,000. GHP Investment Advisors Inc. raised its holdings in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 1,002 shares in the last quarter. Finally, American Capital Advisory LLC lifted its position in Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after buying an additional 2,111 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Down 3.5 %

Shares of RIVN stock opened at $13.93 on Thursday. The business’s fifty day moving average is $13.60 and its 200 day moving average is $12.53. 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, Inc. has a twelve month low of $8.26 and a twelve month high of $18.85.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive stock in a transaction on Monday, November 25th. The stock was 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 owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value 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 $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,788 shares of company stock worth $5,024,431 over the last 90 days. 2.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on RIVN. Benchmark started coverage on shares of Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price target on the stock. Baird R W lowered shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Mizuho decreased their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Needham & Company LLC cut their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of Rivian Automotive in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.13.

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.