Rivian Automotive (NASDAQ:RIVN) Stock Price Up 1.5%

Rivian Automotive, Inc. (NASDAQ:RIVN) shares rose 1.5% during mid-day trading on Tuesday . The company traded as high as $13.54 and last traded at $13.40. Approximately 5,768,130 shares were traded during trading, a decline of 86% from the average daily volume of 40,163,602 shares. The stock had previously closed at $13.20.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RIVN shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $14.00 price objective on shares of Rivian Automotive in a research note on Tuesday, September 10th. Piper Sandler reissued an “overweight” rating and issued a $21.00 price target on shares of Rivian Automotive in a research note on Wednesday, June 26th. Needham & Company LLC lowered their price objective on shares of Rivian Automotive from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. UBS Group dropped their price objective on shares of Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, DA Davidson increased their target price on Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.09.

Rivian Automotive Price Performance

The company has a market cap of $13.27 billion, a PE ratio of -2.32 and a beta of 2.06. The firm’s 50-day moving average is $14.80 and its 200-day moving average is $12.30. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. On average, equities analysts anticipate that Rivian Automotive, Inc. will post -4.92 EPS for the current year.

Insider Buying and Selling at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.97, for a total transaction of $1,069,292.13. Following the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at $13,618,074.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $14.97, for a total value of $1,069,292.13. Following the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at $13,618,074.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 500,830 shares of company stock valued at $7,872,145. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

A number of institutional investors have recently made changes to their positions in RIVN. Principal Securities Inc. bought a new position in Rivian Automotive during the fourth quarter valued at approximately $33,000. Fairman Group LLC purchased a new position in Rivian Automotive in the fourth quarter worth about $36,000. Quent Capital LLC grew its stake in shares of Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 831 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of Rivian Automotive during the 4th quarter valued at about $51,000. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Rivian Automotive by 552.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 2,610 shares of the electric vehicle automaker’s stock worth $61,000 after purchasing an additional 2,210 shares during the period. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Company Profile

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.