Rivian Automotive (NASDAQ:RIVN) Stock Rating Lowered by Cantor Fitzgerald

Cantor Fitzgerald cut shares of Rivian Automotive (NASDAQ:RIVN) from an overweight rating to a neutral rating in a report issued on Friday, Marketbeat Ratings reports. The firm currently has $15.00 price objective on the electric vehicle automaker’s stock, up from their previous price objective of $13.00.

Several other equities analysts also recently commented on RIVN. Robert W. Baird restated a “neutral” rating and issued a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. The Goldman Sachs Group increased their target price on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Bank of America downgraded shares of Rivian Automotive from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $13.00 in a research report on Friday, November 8th. 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 research report on Monday, November 11th. Finally, Royal Bank of Canada dropped their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.09.

Rivian Automotive Trading Down 4.7 %

Shares of RIVN stock opened at $12.97 on Friday. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $18.85. The company has a market capitalization of $13.24 billion, a PE ratio of -2.75 and a beta of 2.04. The firm has a 50 day moving average price of $13.56 and a two-hundred day moving average price of $12.50. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. As a group, analysts predict that Rivian Automotive will post -3.2 earnings per share for the current year.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 8,097 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the transaction, the chief financial officer now directly owns 370,401 shares in the company, valued at approximately $4,518,892.20. This represents a 2.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $13.88, for a total value of $991,434.52. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at $11,983,450.68. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 283,454 shares of company stock worth $4,086,923 over the last quarter. Corporate insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimension Capital Management LLC grew its holdings in Rivian Automotive by 5.5% during the 4th quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker’s stock worth $208,000 after acquiring an additional 819 shares during the last quarter. Tradition Wealth Management LLC raised its holdings in Rivian Automotive by 7.2% during the 4th quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker’s stock worth $168,000 after purchasing an additional 849 shares during the last quarter. John G Ullman & Associates Inc. raised its holdings in Rivian Automotive by 9.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after purchasing an additional 1,000 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of 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 worth $29,000 after purchasing an additional 1,002 shares during the period. Finally, RFG Holdings Inc. boosted its stake in shares of Rivian Automotive by 5.2% in the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock valued at $296,000 after purchasing an additional 1,096 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

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.