Rivian Automotive (RIVN) to Release Earnings on Tuesday

Rivian Automotive (NASDAQ:RIVN) is set to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($1.13) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. On average, analysts expect Rivian Automotive to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Rivian Automotive Price Performance

RIVN stock opened at $10.07 on Monday. The company has a market capitalization of $9.84 billion, a PE ratio of -1.75 and a beta of 1.91. The company’s fifty day moving average price is $10.40 and its 200-day moving average price is $15.13. Rivian Automotive has a one year low of $8.26 and a one year high of $28.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95.

Insider Buying and Selling

In other news, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at $690,829.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at $690,829.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of the business’s 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 owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Insiders have sold 54,306 shares of company stock valued at $717,274 in the last 90 days. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus cut their price objective on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, February 26th. Robert W. Baird reduced their price objective on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Evercore ISI lowered their target price on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. The Goldman Sachs Group reduced their price target on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Finally, Morgan Stanley lowered their price objective on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

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.