Rivian Automotive (NASDAQ:RIVN) PT Lowered to $10.00

Rivian Automotive (NASDAQ:RIVN) had its price target trimmed by Barclays from $12.00 to $10.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the electric vehicle automaker’s stock.

Several other research analysts have also issued reports on the stock. Stifel Nicolaus cut their target price on shares of Rivian Automotive from $23.00 to $18.00 and set a buy rating on the stock in a research note on Monday, February 26th. Mizuho reaffirmed a neutral rating and issued a $12.00 price objective on shares of Rivian Automotive in a research note on Monday, March 25th. Wells Fargo & Company dropped their price objective on shares of Rivian Automotive from $18.00 to $14.00 and set an equal weight rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group dropped 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. Finally, UBS Group raised shares of Rivian Automotive from a sell rating to a neutral rating and set a $9.00 price objective on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $19.61.

Rivian Automotive Stock Down 2.3 %

Shares of NASDAQ RIVN opened at $8.63 on Friday. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $28.06. The company’s fifty day simple moving average is $11.54 and its 200 day simple moving average is $15.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities analysts predict that Rivian Automotive will post -4.79 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction 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 Securities & Exchange Commission, which is available at this hyperlink. In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the transaction, the insider now directly owns 407,787 shares in the company, valued at $5,223,751.47. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock worth $717,274 over the last three months. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Eaton Vance Management increased its stake in shares of Rivian Automotive by 6.8% in the first quarter. Eaton Vance Management now owns 7,843 shares of the electric vehicle automaker’s stock worth $394,000 after buying an additional 497 shares during the period. Gould Capital LLC raised its holdings in Rivian Automotive by 32.6% in the 2nd quarter. Gould Capital LLC now owns 2,035 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Rivian Automotive by 9.1% in the 1st quarter. D.A. Davidson & CO. now owns 6,176 shares of the electric vehicle automaker’s stock worth $310,000 after purchasing an additional 515 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in Rivian Automotive by 1.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 35,904 shares of the electric vehicle automaker’s stock worth $662,000 after purchasing an additional 577 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its holdings in Rivian Automotive by 1,329.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker’s stock worth $32,000 after purchasing an additional 585 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other 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.