Rivian Automotive (NASDAQ:RIVN) Trading Down 1.7% – What’s Next?

Rivian Automotive, Inc. (NASDAQ:RIVN) shares dropped 1.7% during mid-day trading on Tuesday . The stock traded as low as $12.41 and last traded at $12.63. Approximately 7,850,325 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 40,366,824 shares. The stock had previously closed at $12.85.

Wall Street Analyst Weigh In

RIVN has been the topic of a number of research reports. Benchmark assumed coverage on shares of Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. The Goldman Sachs Group lifted their price target 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. Needham & Company LLC lowered their target price on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Barclays upped their price objective on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Rivian Automotive in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Rivian Automotive has an average rating of “Hold” and an average price target of $15.52.

Rivian Automotive Trading Down 1.1 %

The stock’s fifty day simple moving average is $13.25 and its two-hundred day simple moving average is $12.94. The firm has a market cap of $12.97 billion, a PE ratio of -2.27 and a beta of 2.05. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insider Activity at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the transaction, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 363,142 shares of company stock valued at $4,958,860. 2.51% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Institutional investors and hedge funds have recently modified their holdings of the company. Tandem Financial LLC purchased a new position in Rivian Automotive during the fourth quarter valued at $25,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the third quarter valued at approximately $28,000. GHP Investment Advisors Inc. grew its holdings in Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 1,002 shares in the last quarter. American Capital Advisory LLC raised its holdings in shares of Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after acquiring an additional 2,111 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 2,900 shares during the last quarter. 66.25% of the stock is currently owned by 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.