Rivian Automotive (NASDAQ:RIVN - Get Free Report) had its target price lifted by analysts at Mizuho from $11.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the electric vehicle automaker's stock. Mizuho's price target suggests a potential downside of 23.17% from the company's current price.
A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group decreased their target price on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Guggenheim reaffirmed a "buy" rating and set a $16.00 price objective on shares of Rivian Automotive in a report on Tuesday, May 6th. Sanford C. Bernstein started coverage on Rivian Automotive in a report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price objective on the stock. Wedbush decreased their price objective on Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Barclays lifted their price objective on Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $14.24.
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Rivian Automotive Stock Performance
RIVN stock traded up $0.63 during trading on Friday, reaching $16.92. 63,653,076 shares of the stock were exchanged, compared to its average volume of 36,229,618. Rivian Automotive has a twelve month low of $9.50 and a twelve month high of $18.86. The company has a market capitalization of $19.13 billion, a P/E ratio of -3.58 and a beta of 1.86. The stock has a 50 day simple moving average of $12.49 and a 200-day simple moving average of $12.57. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share 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 business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. As a group, sell-side analysts anticipate that Rivian Automotive will post -3.2 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at $9,596,373.75. This represents a 7.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 391,121 shares of company stock worth $5,299,517 in the last quarter. Insiders own 2.16% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in RIVN. Tandem Financial LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $25,000. PFS Partners LLC lifted its stake in shares of Rivian Automotive by 1,882.0% in the 1st quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock valued at $25,000 after purchasing an additional 1,882 shares during the period. Banque Transatlantique SA lifted its stake in shares of Rivian Automotive by 13,194.1% in the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 2,243 shares during the period. Bank of Jackson Hole Trust acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $27,000. Finally, Orion Capital Management LLC bought a new stake in shares of Rivian Automotive in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 66.25% of the company's stock.
About Rivian Automotive
(
Get Free Report)
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.
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