Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $13.99 Consensus Price Target from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has been assigned a consensus rating of “Hold” from the twenty-six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $14.08.

RIVN has been the subject of a number of research reports. Guggenheim reissued a “buy” rating and set a $16.00 target price on shares of Rivian Automotive in a research note on Tuesday, May 6th. Cowen assumed coverage on Rivian Automotive in a report on Thursday, March 6th. They set a “hold” rating on the stock. Piper Sandler cut shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $13.00 in a research note on Thursday, March 20th. Wells Fargo & Company decreased their target price on Rivian Automotive from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Finally, Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Rivian Automotive in a report on Tuesday, March 18th.

Rivian Automotive Price Performance

Shares of RIVN stock opened at $14.87 on Friday. 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 has a 52-week low of $9.50 and a 52-week high of $18.86. The firm’s 50 day moving average price is $12.13 and its two-hundred day moving average price is $12.41. The stock has a market cap of $16.81 billion, a PE ratio of -3.15 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. As a group, analysts forecast that Rivian Automotive will post -3.2 EPS for the current year.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,596,373.75. This trade represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock valued at $2,154,905 over the last quarter. Insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its holdings in shares of Rivian Automotive by 7.4% in the first quarter. Larson Financial Group LLC now owns 10,504 shares of the electric vehicle automaker’s stock valued at $131,000 after purchasing an additional 722 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Rivian Automotive by 2.4% during the first quarter. Brown Advisory Inc. now owns 32,526 shares of the electric vehicle automaker’s stock worth $405,000 after acquiring an additional 772 shares in the last quarter. First National Trust Co boosted its stake in Rivian Automotive by 5.3% in the 1st quarter. First National Trust Co now owns 16,000 shares of the electric vehicle automaker’s stock worth $199,000 after purchasing an additional 800 shares during the period. Dimension Capital Management LLC grew its stake in Rivian Automotive by 5.5% during the fourth quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker’s stock valued at $208,000 after acquiring an additional 819 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its position in shares of Rivian Automotive by 7.2% during the 4th quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker’s stock valued at $168,000 after purchasing an additional 849 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

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.