Rivian Automotive (NASDAQ:RIVN) Shares Up 2.9% – Here’s Why

Rivian Automotive, Inc. (NASDAQ:RIVN) shares shot up 2.9% on Thursday . The stock traded as high as $16.97 and last traded at $16.80. Approximately 15,455,533 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 30,398,250 shares. The stock had previously closed at $16.33.

More Rivian Automotive News

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

• Positive Sentiment: Rivian is benefiting from a broader rebound in beaten-down EV stocks. The Global X Autonomous & Electric Vehicles ETF rose about 1%, while Lucid posted a larger advance, suggesting some investors are rotating back into the sector after its recent selloff. Lucid Jumps 7%, Rivian Edges Higher: Is the EV Selloff Finally Exhausted?
• Positive Sentiment: Recent results, higher delivery guidance and progress toward the R2 platform remain supportive catalysts. Rivian’s latest quarter exceeded earnings and revenue expectations, while revenue increased year over year, helping explain why the stock remains above its 50-day and 200-day moving averages. Rivian Automotive Raised Delivery Guidance, Is It Still Undervalued?
• Neutral Sentiment: Analysts’ consensus recommendation remains “Hold,” indicating that expected growth is balanced against Rivian’s ongoing losses and execution risks. Rivian Receives Consensus Recommendation of Hold
• Neutral Sentiment: Rivian’s Autonomy+ hands-free driving system reportedly performs better than some legacy rivals, although testing still placed Tesla ahead in broader, point-to-point driving. The technology is a potential differentiator but does not yet eliminate Tesla’s competitive advantage. Rivian Is Catching Up to Tesla’s Self-Driving Tech
• Negative Sentiment: CFO Claire McDonough will step down at the end of October to pursue another opportunity and relocate closer to family. She will remain for roughly two months to support the transition, but the leadership change comes during the important affordable-EV rollout and fragile U.S. EV demand, adding near-term uncertainty. Rivian’s Finance Chief Steps Down Amid Affordable EV Rollout

Analysts Set New Price Targets

Several brokerages have recently issued reports on RIVN. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a report on Friday, May 1st. Royal Bank Of Canada boosted their price objective on Rivian Automotive from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Wall Street Zen upgraded Rivian Automotive from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Stifel Nicolaus set a $22.00 price objective on Rivian Automotive in a research note on Monday. Finally, Morgan Stanley lifted their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rivian Automotive presently has an average rating of “Hold” and an average price target of $19.05.

Rivian Automotive Price Performance

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.10. The company has a market capitalization of $24.32 billion, a P/E ratio of -6.51 and a beta of 1.61. The firm’s fifty day moving average is $16.50 and its 200 day moving average is $15.87.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Thursday, July 30th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.03. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.52 billion. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.97) earnings per share. As a group, analysts predict that Rivian Automotive, Inc. will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 8,023 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the transaction, the chief financial officer owned 819,178 shares in the company, valued at $13,106,848. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the director owned 110,000 shares of the company’s stock, valued at approximately $2,200,000. The trade was a 15.38% 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. Insiders have sold a total of 49,190 shares of company stock valued at $847,324 over the last three months. 1.48% of the stock is owned by corporate insiders.

Institutional Trading of Rivian Automotive

Large investors have recently made changes to their positions in the stock. Core Wealth Advisors LLC bought a new stake in Rivian Automotive during the 4th quarter valued at about $27,000. Zions Bancorporation National Association UT purchased a new stake in Rivian Automotive in the 4th quarter valued at about $33,000. Newbridge Financial Services Group Inc. grew its stake in Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. IFC & Insurance Marketing Inc. bought a new position in Rivian Automotive in the 4th quarter worth about $39,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Rivian Automotive during the fourth quarter worth approximately $39,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.