Rivian Automotive (NASDAQ:RIVN) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Rivian Automotive (NASDAQ:RIVNFree Report) in a report issued on Wednesday, Benzinga reports. The firm currently has a $23.00 price objective on the electric vehicle automaker’s stock.

A number of other analysts have also weighed in on RIVN. Piper Sandler upgraded shares of Rivian Automotive from a neutral rating to an overweight rating and increased their price objective for the stock from $15.00 to $21.00 in a research note on Friday, March 15th. The Goldman Sachs Group cut their price objective on shares of Rivian Automotive from $20.00 to $17.00 and set a neutral rating on the stock in a research note on Thursday, January 25th. Robert W. Baird cut their price objective on shares of Rivian Automotive from $30.00 to $23.00 and set an outperform rating on the stock in a research note on Thursday, February 22nd. Truist Financial reiterated a hold rating and issued a $11.00 price objective (down previously from $26.00) on shares of Rivian Automotive in a research note on Monday, February 26th. Finally, Mizuho restated a neutral rating and set a $12.00 price target on shares of Rivian Automotive in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $19.91.

Check Out Our Latest Research Report on Rivian Automotive

Rivian Automotive Trading Up 0.3 %

Shares of Rivian Automotive stock opened at $10.54 on Wednesday. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. Rivian Automotive has a 12-month low of $10.05 and a 12-month high of $28.06. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of -1.84 and a beta of 1.88. The firm’s 50 day simple moving average is $13.01 and its two-hundred day simple moving average is $16.98.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. Analysts predict that Rivian Automotive will post -4.79 EPS for the current year.

Insider Transactions at Rivian Automotive

In other news, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at $690,829.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the transaction, the chief accounting officer now directly owns 52,415 shares in the company, valued at $690,829.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,306 shares of company stock valued at $717,274. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors have recently bought and sold shares of RIVN. Sunbelt Securities Inc. raised its stake in Rivian Automotive by 195.0% during the second quarter. Sunbelt Securities Inc. now owns 1,475 shares of the electric vehicle automaker’s stock worth $25,000 after purchasing an additional 975 shares during the period. Bear Mountain Capital Inc. purchased a new position in Rivian Automotive during the fourth quarter worth about $26,000. Ancora Advisors LLC purchased a new position in Rivian Automotive during the third quarter worth about $27,000. MCF Advisors LLC raised its stake in Rivian Automotive by 396.8% during the third quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock worth $30,000 after purchasing an additional 1,000 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new position in Rivian Automotive during the fourth quarter worth about $30,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

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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