Analysts Set Rivian Automotive, Inc. (NASDAQ:RIVN) Target Price at $14.25

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have received an average rating of “Hold” from the twenty-six brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.17.

RIVN has been the topic of several research analyst reports. Guggenheim reduced their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Mizuho reduced their target price on Rivian Automotive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Cowen started coverage on Rivian Automotive in a research report on Thursday, March 6th. They set a “hold” rating on the stock. UBS Group decreased their price objective on Rivian Automotive from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Finally, Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of the firm’s 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 transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the sale, the chief executive officer now owns 853,011 shares of the company’s stock, valued at approximately $9,596,373.75. This trade represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock worth $2,237,044 over the last three months. 2.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimension Capital Management LLC grew its holdings in Rivian Automotive by 5.5% during the fourth quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker’s stock valued at $208,000 after purchasing an additional 819 shares during the period. Tradition Wealth Management LLC grew its stake in shares of 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 valued at $168,000 after acquiring an additional 849 shares during the period. Assenagon Asset Management S.A. increased its holdings in Rivian Automotive by 1.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 60,252 shares of the electric vehicle automaker’s stock worth $750,000 after acquiring an additional 867 shares in the last quarter. RFG Holdings Inc. increased its holdings in Rivian Automotive by 5.2% in the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock worth $296,000 after acquiring an additional 1,096 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Rivian Automotive by 4.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock worth $354,000 after acquiring an additional 1,160 shares during the period. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Trading Down 3.5 %

NASDAQ RIVN opened at $11.49 on Monday. The stock has a market cap of $12.99 billion, a P/E ratio of -2.43 and a beta of 1.89. Rivian Automotive has a fifty-two week low of $8.32 and a fifty-two week high of $18.86. The stock has a 50 day simple moving average of $11.94 and a two-hundred day simple moving average of $12.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Rivian Automotive (NASDAQ:RIVN) last announced 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. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. On average, analysts forecast that Rivian Automotive will post -3.2 earnings per share for the current year.

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.