Rivian Automotive (NASDAQ:RIVN) Price Target Cut to $16.00 by Analysts at Stifel Nicolaus

Rivian Automotive (NASDAQ:RIVN) had its target price trimmed by Stifel Nicolaus from $18.00 to $16.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the electric vehicle automaker’s stock.

Several other equities analysts have also recently weighed in on RIVN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $14.00 price target on shares of Rivian Automotive in a research note on Tuesday, September 10th. Mizuho cut their price target on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Wolfe Research initiated coverage on Rivian Automotive in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Guggenheim reduced their price target on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial lowered their price target on Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and a consensus target price of $15.68.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $12.03 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.01. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of -2.15 and a beta of 2.04. The stock’s 50-day moving average is $11.22 and its 200-day moving average is $12.39. Rivian Automotive has a one year low of $8.26 and a one year high of $24.61.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares in the company, valued at $5,328,423.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was 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 in the company, valued at approximately $5,328,423.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the completion of the transaction, the chief executive officer now directly owns 886,526 shares of the company’s stock, valued at approximately $10,319,162.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 169,876 shares of company stock worth $2,153,551 in the last 90 days. Company insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC boosted its holdings in shares of Rivian Automotive by 74.3% in 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 in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 2,380 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Rivian Automotive by 63.2% in 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 grew its position in 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 valued at $33,000 after acquiring an additional 2,111 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Rivian Automotive during the second quarter worth about $37,000. 66.25% of the stock is owned by institutional investors.

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.