Rivian Automotive Target of Unusually Large Options Trading (NASDAQ:RIVN)

Rivian Automotive, Inc. (NASDAQ:RIVN) was the target of unusually large options trading activity on Monday. Traders acquired 185,311 call options on the company. This is an increase of 43% compared to the typical daily volume of 129,677 call options.

Insider Transactions at Rivian Automotive

In other news, Director Karen Boone sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the director directly owned 110,000 shares of the company’s stock, valued at $2,200,000. This trade represents a 15.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $15.00, for a total value of $522,270.00. Following the sale, the chief executive officer owned 922,286 shares of the company’s stock, valued at approximately $13,834,290. This represents a 3.64% 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 84,008 shares of company stock valued at $1,369,594. 1.48% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Large investors have recently bought and sold shares of the stock. Danske Bank A S raised its stake in shares of Rivian Automotive by 36.8% in the fourth quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker’s stock worth $12,102,000 after acquiring an additional 165,300 shares during the last quarter. Trek Financial LLC acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $6,115,000. Independent Financial Group LLC bought a new position in Rivian Automotive in the 1st quarter worth approximately $985,000. Swedbank AB raised its position in Rivian Automotive by 8.6% in the 4th quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker’s stock worth $18,553,000 after purchasing an additional 74,322 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Rivian Automotive by 34.9% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 348,800 shares of the electric vehicle automaker’s stock worth $5,249,000 after buying an additional 90,200 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $16.97 on Monday. The company has a quick ratio of 1.65, a current ratio of 2.10 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $16.48 and its two-hundred day moving average is $15.82. The company has a market cap of $24.57 billion, a P/E ratio of -6.58 and a beta of 1.61. Rivian Automotive has a 12 month low of $12.16 and a 12 month high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Thursday, July 30th. The electric vehicle automaker reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.19. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.52 billion. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.97) EPS. On average, equities analysts expect that Rivian Automotive will post -2.98 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Rivian Automotive from a “buy” rating to an “underperform” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Rivian Automotive from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Piper Sandler upgraded shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $20.00 in a research note on Monday, July 27th. Jefferies Financial Group raised their price target on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Finally, UBS Group lifted their price objective on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.95.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.