Rivian Automotive (NASDAQ:RIVN) Stock Rating Upgraded by UBS Group

Rivian Automotive (NASDAQ:RIVN) was upgraded by equities researchers at UBS Group from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $9.00 target price on the electric vehicle automaker’s stock. UBS Group’s target price points to a potential upside of 2.97% from the stock’s current price.

RIVN has been the topic of several other reports. The Goldman Sachs Group decreased their target price on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of Rivian Automotive in a research report on Wednesday, April 3rd. Needham & Company LLC dropped their price target on shares of Rivian Automotive from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company dropped their price objective on Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Finally, Robert W. Baird lowered their price target on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.91.

Rivian Automotive Trading Up 0.3 %

Shares of NASDAQ:RIVN opened at $8.74 on Tuesday. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $28.06. The firm has a fifty day moving average of $11.85 and a two-hundred day moving average of $16.08. The firm has a market capitalization of $8.54 billion, a P/E ratio of -1.52 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.67) by $0.09. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. On average, equities analysts expect that Rivian Automotive will post -4.8 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In related news, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at $690,829.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at $690,829.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders have sold a total of 54,306 shares of company stock valued at $717,274 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

A number of hedge funds have recently added to or reduced their stakes in the stock. Vicus Capital boosted its position in Rivian Automotive by 11.6% during the 1st quarter. Vicus Capital now owns 13,633 shares of the electric vehicle automaker’s stock worth $149,000 after buying an additional 1,422 shares during the period. RFG Holdings Inc. raised its stake in Rivian Automotive by 74.7% during the first quarter. RFG Holdings Inc. now owns 17,914 shares of the electric vehicle automaker’s stock worth $196,000 after buying an additional 7,659 shares during the last quarter. Austin Private Wealth LLC boosted its position in shares of Rivian Automotive by 64.7% during the 1st quarter. Austin Private Wealth LLC now owns 25,787 shares of the electric vehicle automaker’s stock valued at $272,000 after purchasing an additional 10,128 shares in the last quarter. Strategic Planning Group LLC acquired a new stake in Rivian Automotive during the first quarter worth approximately $867,000. Finally, Global Assets Advisory LLC acquired a new position in shares of Rivian Automotive during the 1st quarter valued at $574,000. Institutional investors and hedge funds 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.