Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $15.09 Average PT from Brokerages

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been given an average rating of “Hold” by the twenty-five analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.87.

RIVN has been the subject of a number of research reports. UBS Group upped their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Piper Sandler dropped their price objective on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Stifel Nicolaus cut their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Truist Financial boosted their target price on Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Benchmark began coverage on Rivian Automotive in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price target for the company.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $11.45 on Friday. 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 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 $13.42 and its 200-day simple moving average is $12.47. The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of -2.43 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.43 billion. As a group, analysts expect that Rivian Automotive will post -3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $11,784,877.65. This represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,357 shares of company stock valued at $3,988,140 over the last 90 days. Insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Gould Capital LLC boosted its position in Rivian Automotive by 87.6% in the 4th quarter. Gould Capital LLC now owns 7,025 shares of the electric vehicle automaker’s stock valued at $93,000 after buying an additional 3,280 shares during the period. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $206,000. Neo Ivy Capital Management boosted its holdings in shares of Rivian Automotive by 23.8% in the fourth quarter. Neo Ivy Capital Management now owns 157,704 shares of the electric vehicle automaker’s stock valued at $2,097,000 after purchasing an additional 30,300 shares during the period. Orion Capital Management LLC bought a new position in Rivian Automotive in the fourth quarter worth approximately $34,000. Finally, Elequin Capital LP purchased a new position in Rivian Automotive during the 4th quarter worth $49,000. 66.25% of the stock is currently owned by institutional investors.

About Rivian Automotive

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.