Rivian Automotive (NASDAQ:RIVN) Shares Down 3.1% – Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN) traded down 3.1% on Thursday . The stock traded as low as $12.23 and last traded at $12.30. 15,056,621 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 41,961,789 shares. The stock had previously closed at $12.69.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Needham & Company LLC reduced their price target on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price target on shares of Rivian Automotive in a report on Monday, January 6th. Wells Fargo & Company reduced their price target on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Finally, Guggenheim reduced their price objective on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and a consensus price target of $15.52.

Rivian Automotive Trading Down 1.9 %

The company has a 50 day moving average price of $13.09 and a two-hundred day moving average price of $13.03. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of -2.22 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,429 shares of company stock worth $4,467,450. Company insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive in the 3rd quarter valued at $28,000. GHP Investment Advisors Inc. raised its holdings in Rivian Automotive by 63.2% in the 3rd 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 during the period. American Capital Advisory LLC lifted 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 buying an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after buying an additional 2,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Rivian Automotive during the third quarter valued at about $44,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.