Rivian Automotive (NASDAQ:RIVN) Trading 0.3% Higher – Here’s What Happened

Rivian Automotive, Inc. (NASDAQ:RIVN) shares traded up 0.3% on Monday . The company traded as high as $14.10 and last traded at $13.87. 6,316,449 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 39,918,539 shares. The stock had previously closed at $13.83.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley lowered Rivian Automotive from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $16.00 to $13.00 in a research note on Wednesday, September 25th. Piper Sandler decreased their target price on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their price target on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 22nd. Stifel Nicolaus cut their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, Bank of America cut shares of Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $13.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.74.

Rivian Automotive Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of -2.50 and a beta of 2.12. The company’s 50 day simple moving average is $11.44 and its two-hundred day simple moving average is $12.78.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the transaction, the chief financial officer now owns 351,900 shares in the company, valued at $5,278,500. The trade was a 4.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,571 shares of company stock worth $2,321,008 in the last ninety days. Corporate insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

Large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in shares of Rivian Automotive during the 3rd quarter valued at $28,000. GHP Investment Advisors Inc. raised its holdings in Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 1,002 shares in the last quarter. American Capital Advisory LLC lifted its position in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after buying an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 2,900 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Rivian Automotive during the 2nd quarter valued at about $37,000. 66.25% of the stock is owned by institutional investors.

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.