Rivian Automotive (NASDAQ:RIVN) Stock Price Up 0.3%

Rivian Automotive, Inc. (NASDAQ:RIVN) shares traded up 0.3% on Monday . The company traded as high as $10.50 and last traded at $10.10. 13,042,476 shares were traded during trading, a decline of 69% from the average session volume of 41,657,898 shares. The stock had previously closed at $10.07.

Analysts Set New Price Targets

Several brokerages have issued reports on RIVN. Evercore ISI decreased their price target on shares of Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. UBS Group upgraded Rivian Automotive from a “sell” rating to a “neutral” rating and set a $9.00 price objective for the company in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 target price on shares of Rivian Automotive in a report on Tuesday, April 2nd. Mizuho dropped their price target on shares of Rivian Automotive from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird lowered their target price on shares of Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Rivian Automotive Stock Up 0.2 %

The stock has a fifty day moving average price of $10.35 and a two-hundred day moving average price of $15.00. The company has a market cap of $10.04 billion, a P/E ratio of -1.79 and a beta of 1.91. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, beating the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. On average, research analysts expect that Rivian Automotive, Inc. will post -4.77 EPS for the current year.

Insider Buying and Selling

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the sale, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares in the company, valued at $690,829.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,306 shares of company stock worth $717,274. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Rivian Automotive

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Rivian Automotive by 35.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock worth $2,277,304,000 after purchasing an additional 25,550,489 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Rivian Automotive by 714.3% in the first quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock worth $277,046,000 after buying an additional 22,194,018 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Rivian Automotive by 1,521.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock valued at $69,291,000 after acquiring an additional 5,937,605 shares in the last quarter. Norges Bank bought a new stake in Rivian Automotive during the 4th quarter worth approximately $129,427,000. Finally, Vanguard Group Inc. lifted its stake in Rivian Automotive by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock worth $1,602,629,000 after purchasing an additional 4,467,881 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

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.