Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Has Average Target Price of $19.50 According to Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been assigned a consensus recommendation of “Hold” from the twenty-six brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $19.50.

Several equities research analysts have recently commented on RIVN shares. Deutsche Bank downgraded shares of Rivian Automotive from a “buy” rating to an “underperform” rating in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Rivian Automotive from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Cantor Fitzgerald dropped their price target on shares of Rivian Automotive from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Rivian Automotive in a research report on Friday, October 2nd. Finally, UBS Group raised shares of Rivian Automotive from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Monday, November 2nd.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire McDonough sold 13,144 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $14.50, for a total value of $190,588.00. Following the transaction, the chief financial officer directly owned 827,201 shares of the company’s stock, valued at approximately $11,994,414.50. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael John Callahan sold 15,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00. Following the completion of the sale, the insider owned 1,001,776 shares of the company’s stock, valued at $15,026,640. This trade represents a 1.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 51,167 shares of company stock worth $788,306. Insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jacobi Capital Management LLC purchased a new stake in shares of Rivian Automotive during the third quarter worth $25,000. MCF Advisors LLC grew its stake in Rivian Automotive by 3,500.0% during the 2nd quarter. MCF Advisors LLC now owns 1,800 shares of the electric vehicle automaker’s stock worth $31,000 after purchasing an additional 1,750 shares in the last quarter. Ancora Advisors LLC acquired a new position in Rivian Automotive during the 2nd quarter worth $44,000. Oslo Pensjonsforsikring AS purchased a new stake in Rivian Automotive during the 1st quarter worth about $39,000. Finally, Heritage Family Offices LLP acquired a new stake in Rivian Automotive in the 3rd quarter valued at about $49,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Stock Down 5.5%

NASDAQ:RIVN opened at $12.80 on Tuesday. The company’s 50-day simple moving average is $14.02 and its 200-day simple moving average is $15.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.70 and a current ratio of 2.18. Rivian Automotive has a fifty-two week low of $11.38 and a fifty-two week high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, October 29th. The electric vehicle automaker reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.16. Rivian Automotive had a negative return on equity of 69.68% and a negative net margin of 45.88%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business posted ($1.08) EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities analysts forecast that Rivian Automotive will post -2.72 EPS for the current year.

Key Stories Impacting Rivian Automotive

These are some of the RIVN stories that stood out recently:

• Positive Sentiment: UBS upgraded Rivian to Buy, signaling greater confidence in the company, although it left its price target unchanged. Rivian Just Earned a Buy Rating. Is Wall Street Seeing a Turning Point?
• Positive Sentiment: Commentary points to the R2 production ramp and upgraded electric delivery vans as potential growth drivers. Better van range and options could help Rivian win a larger fleet order, though no new deal was reported. Rivian’s Vans Got a Serious Upgrade. Could Another Major Fleet Deal Finally Follow? Rivian: Oversold As R2 Ramps Up
• Neutral Sentiment: CEO RJ Scaringe said he does not expect robotaxis to eliminate private car ownership, and Rivian is pursuing a self-driving strategy alongside its vehicle business. This outlines the company’s approach but does not indicate a near-term revenue impact. Rivian CEO says robotaxis won’t end car ownership — he’s betting on both

About Rivian Automotive

Rivian Automotive, Inc. designs, develops and manufactures electric vehicles and related technology. Its consumer lineup includes the R1T electric pickup truck and R1S electric sport utility vehicle, while its commercial offerings include electric delivery vans and fleet services. Founded in 2009 by RJ Scaringe, the company began delivering its R1T and R1S vehicles in 2021. Rivian also develops vehicle software, charging solutions and services intended to support its consumer and commercial customers.