Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Rating of “Moderate Buy” by Analysts

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) has received a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $19.00.

A number of brokerages have recently issued reports on RIVN. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 target price on shares of Rivian Automotive in a report on Tuesday, April 2nd. Piper Sandler upgraded Rivian Automotive from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $15.00 to $21.00 in a research report on Friday, March 15th. Jefferies Financial Group started coverage on Rivian Automotive in a research report on Thursday, March 7th. They issued a “buy” rating and a $16.00 price objective on the stock. Mizuho decreased their price objective on Rivian Automotive from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, Morgan Stanley decreased their price objective on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th.

Check Out Our Latest Research Report on Rivian Automotive

Rivian Automotive Price Performance

NASDAQ RIVN opened at $10.32 on Tuesday. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $28.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71. The stock has a market capitalization of $10.27 billion, a PE ratio of -1.79 and a beta of 2.01. The stock has a 50-day simple moving average of $10.24 and a 200 day simple moving average of $13.68.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. Research analysts anticipate that Rivian Automotive will post -4.96 EPS for the current year.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.49, for a total transaction of $820,719.21. Following the completion of the transaction, the chief executive officer now owns 909,691 shares in the company, valued at $10,452,349.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

A number of hedge funds and other institutional investors have recently made changes to their positions in RIVN. Price T Rowe Associates Inc. MD raised its position in Rivian Automotive by 35.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after purchasing an additional 25,550,489 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rivian Automotive by 1.8% during the first quarter. Vanguard Group Inc. now owns 69,539,602 shares of the electric vehicle automaker’s stock worth $761,459,000 after buying an additional 1,226,357 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Rivian Automotive by 714.3% during the first quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock worth $277,046,000 after buying an additional 22,194,018 shares during the last quarter. Morgan Stanley grew its stake in shares of Rivian Automotive by 14.0% during the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock worth $235,409,000 after buying an additional 1,193,650 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rivian Automotive by 1,521.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after buying an additional 5,937,605 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

About Rivian Automotive

(Get Free Report

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.

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Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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