Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $19.61 Consensus PT from Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have earned a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.61.

RIVN has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price target on Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Wolfe Research restated a “peer perform” rating on shares of Rivian Automotive in a research report on Thursday, January 4th. Barclays cut their target price on shares of Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Mizuho reissued a “neutral” rating and set a $12.00 price objective on shares of Rivian Automotive in a report on Monday, March 25th. Finally, Robert W. Baird cut their price objective on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 2,946 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the transaction, the chief financial officer now owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the sale, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the sale, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock valued at $717,274 over the last 90 days. Insiders own 2.30% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of large investors have recently modified their holdings of RIVN. Janney Montgomery Scott LLC lifted its stake in Rivian Automotive by 19.4% in the first quarter. Janney Montgomery Scott LLC now owns 171,243 shares of the electric vehicle automaker’s stock worth $1,875,000 after acquiring an additional 27,784 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Rivian Automotive by 1,521.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after buying an additional 5,937,605 shares in the last quarter. Baillie Gifford & Co. raised its stake in Rivian Automotive by 714.3% in the first quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock worth $277,046,000 after buying an additional 22,194,018 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Rivian Automotive by 3.1% during the first quarter. Private Advisor Group LLC now owns 48,243 shares of the electric vehicle automaker’s stock worth $528,000 after buying an additional 1,432 shares during the period. Finally, Norden Group LLC bought a new stake in Rivian Automotive during the 1st quarter valued at $132,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Up 3.5 %

RIVN opened at $9.21 on Monday. Rivian Automotive has a fifty-two week low of $8.26 and a fifty-two week high of $28.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of -1.60 and a beta of 1.88. The firm’s fifty day moving average is $10.43 and its 200 day moving average is $15.29.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. On average, sell-side analysts forecast that Rivian Automotive will post -4.76 earnings per share 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.