SOL Capital Management CO Purchases 66,225 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

SOL Capital Management CO boosted its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 77.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,629 shares of the electric vehicle automaker’s stock after acquiring an additional 66,225 shares during the period. SOL Capital Management CO’s holdings in Rivian Automotive were worth $2,017,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RIVN. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive during the third quarter worth approximately $28,000. GHP Investment Advisors Inc. increased its stake in Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares in the last quarter. American Capital Advisory LLC raised its holdings in Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after buying an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after buying an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Rivian Automotive during the third quarter valued at about $44,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $12.51 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.85. The stock’s 50-day simple moving average is $13.39 and its 200 day simple moving average is $12.90.

Analyst Ratings Changes

RIVN has been the topic of a number of analyst reports. Mizuho lowered their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company dropped their target price 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. Canaccord Genuity Group decreased their price target on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 7th. The Goldman Sachs Group raised their price objective on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Barclays upped their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Insider Activity

In related news, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 8,097 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total transaction of $98,783.40. Following the sale, the chief financial officer now directly owns 370,401 shares in the company, valued at $4,518,892.20. The trade was a 2.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 363,142 shares of company stock valued at $4,958,860 over the last quarter. Company insiders own 2.51% of the company’s stock.

Rivian Automotive 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.