Rivian Automotive (NASDAQ:RIVN) Trading 1.8% Higher – Here’s What Happened

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) traded up 1.8% during trading on Thursday . The company traded as high as $14.83 and last traded at $14.52. 21,105,849 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 29,150,943 shares. The stock had previously closed at $14.27.

Key Rivian Automotive News

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

• Positive Sentiment: Rivian’s spinout Mind Robotics raised $400 million at a reported $3.4 billion valuation, which may support the view that Rivian has value beyond EVs and could strengthen investor interest in its broader technology and automation efforts. Article: Mind Robotics Funding Recasts Rivian Story Beyond EVs And Into Robotics
• Neutral Sentiment: Several recent articles noted that Rivian is drawing investor attention, suggesting the market is closely watching upcoming developments such as the R2 launch and broader operating trends. Article: Rivian Automotive, Inc. (RIVN) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: One report said Rivian faces its biggest short-term threat from tougher macro conditions that could complicate the launch and ramp of the R2, keeping sentiment cautious on execution risk. Article: Rivian Faces Its Biggest Short-Term Threat
• Negative Sentiment: Broader EV and valuation commentary remains a headwind for the sector, with articles emphasizing concern over unproven business models and investor caution around stocks like Rivian. Article: 3 Stocks Under $50 That Concern Us

Analysts Set New Price Targets

RIVN has been the topic of a number of recent analyst reports. Leerink Partners reaffirmed an “outperform” rating on shares of Rivian Automotive in a research note on Thursday, March 12th. Cantor Fitzgerald raised their target price on shares of Rivian Automotive from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of Rivian Automotive from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $15.00 target price on shares of Rivian Automotive in a research note on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Rivian Automotive from a “hold” rating to a “buy” rating and raised their target price for the company from $16.00 to $23.00 in a research note on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.57.

Rivian Automotive Price Performance

The stock has a market capitalization of $17.11 billion, a PE ratio of -4.72 and a beta of 1.64. The firm’s 50 day simple moving average is $15.54 and its 200 day simple moving average is $16.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.14. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The business’s revenue was down 25.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.70) earnings per share. As a group, equities analysts forecast that Rivian Automotive, Inc. will post -3.1 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 34,900 shares of Rivian Automotive stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $16.80, for a total transaction of $586,320.00. Following the transaction, the chief executive officer directly owned 1,044,731 shares of the company’s stock, valued at approximately $17,551,480.80. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 27,133 shares of Rivian Automotive stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $455,834.40. Following the transaction, the chief financial officer directly owned 680,836 shares in the company, valued at $11,438,044.80. This trade represents a 3.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 148,888 shares of company stock worth $2,411,276 over the last three months. Insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Illinois Municipal Retirement Fund increased its stake in shares of Rivian Automotive by 1.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 43,282 shares of the electric vehicle automaker’s stock worth $853,000 after buying an additional 686 shares during the period. Merit Financial Group LLC increased its stake in shares of Rivian Automotive by 3.2% in the fourth quarter. Merit Financial Group LLC now owns 23,127 shares of the electric vehicle automaker’s stock worth $456,000 after buying an additional 718 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Rivian Automotive by 36.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,764 shares of the electric vehicle automaker’s stock worth $54,000 after buying an additional 739 shares during the period. Utah Retirement Systems increased its stake in shares of Rivian Automotive by 0.6% in the fourth quarter. Utah Retirement Systems now owns 128,500 shares of the electric vehicle automaker’s stock worth $2,533,000 after buying an additional 744 shares during the period. Finally, Tradition Wealth Management LLC increased its stake in shares of Rivian Automotive by 5.7% in the fourth quarter. Tradition Wealth Management LLC now owns 14,056 shares of the electric vehicle automaker’s stock worth $277,000 after buying an additional 753 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Company Profile

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.