Rivian Automotive (NASDAQ:RIVN) Shares Down 6.6% – Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN) traded down 6.6% on Tuesday . The stock traded as low as $15.24 and last traded at $15.73. 38,747,764 shares traded hands during trading, an increase of 29% from the average session volume of 30,148,039 shares. The stock had previously closed at $16.84.

Key Rivian Automotive News

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian started first public deliveries of the all-new R2 mid-size SUV, a major milestone for its next-generation growth strategy and a potential driver of future revenue. Rivian Begins R2 Public Customer Deliveries, Opens Orders for Reservation Holders
• Positive Sentiment: Early reviews of the R2 have been favorable, which may support demand expectations and improve investor confidence in Rivian’s new vehicle lineup. Rivian’s R2 impresses reviewers as deliveries begin
• Positive Sentiment: Rivian also pulled forward its lower-priced $45,000 model to next summer, signaling a quicker push into a broader market and potentially larger long-term sales volume. Rivian is betting on its R2 EV to turn the automaker into a household name like Tesla
• Neutral Sentiment: Short-interest data showed no meaningful change, with reported short interest at zero shares, offering little new signal for traders. Rivian short interest update
• Negative Sentiment: Despite the R2 launch, some market coverage says Rivian’s stock has not rallied on the news, suggesting investors may still be skeptical about near-term execution and the path to profitability. Rivian’s Biggest Product Launch Yet Fails to Lift the Stock
• Negative Sentiment: Rivian also remains under a regulatory overhang after an NHTSA probe, which can weigh on sentiment around the stock. Here’s What Rivian Automotive Inc (RIVN) Said About the NHTSA Probe

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen restated a “buy” rating and set a $20.00 price target on shares of Rivian Automotive in a report on Wednesday, June 3rd. DA Davidson raised their price target on Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Rivian Automotive in a report on Friday, May 1st. Weiss Ratings upgraded Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Rivian Automotive from a “hold” rating to a “buy” rating and raised their price target for the company from $16.00 to $23.00 in a report on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, Rivian Automotive has an average rating of “Hold” and a consensus target price of $18.57.

Rivian Automotive Trading Down 6.6%

The stock has a market cap of $19.52 billion, a PE ratio of -5.39 and a beta of 1.62. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. The stock has a fifty day moving average price of $15.48 and a 200 day moving average price of $16.35.

Insider Buying and Selling

In other news, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the completion of the transaction, the chief executive officer owned 922,286 shares in the company, valued at approximately $13,834,290. The trade was a 3.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of Rivian Automotive stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total value of $184,410.00. Following the completion of the transaction, the chief financial officer owned 946,814 shares of the company’s stock, valued at approximately $17,042,652. This trade represents a 1.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 117,790 shares of company stock valued at $1,832,466. Company insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Large investors have recently bought and sold shares of the business. Danske Bank A S boosted its holdings in Rivian Automotive by 36.8% during the 4th quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker’s stock valued at $12,102,000 after acquiring an additional 165,300 shares during the period. Trek Financial LLC bought a new stake in Rivian Automotive during the 4th quarter valued at $6,115,000. Swedbank AB raised its position in Rivian Automotive by 8.6% during the 4th quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker’s stock valued at $18,553,000 after purchasing an additional 74,322 shares in the last quarter. DNB Asset Management AS raised its position in Rivian Automotive by 85.4% during the 3rd quarter. DNB Asset Management AS now owns 728,262 shares of the electric vehicle automaker’s stock valued at $10,691,000 after purchasing an additional 335,511 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Rivian Automotive during the 4th quarter valued at $4,895,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.