Rivian Automotive (NASDAQ:RIVN) Stock Price Up 0.2%

Rivian Automotive, Inc. (NASDAQ:RIVN) shares rose 0.2% during trading on Friday . The stock traded as high as $10.41 and last traded at $10.35. Approximately 6,618,397 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 39,877,188 shares. The stock had previously closed at $10.33.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RIVN shares. Morgan Stanley lowered their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Stifel Nicolaus lowered their price target on shares of Rivian Automotive from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Piper Sandler upgraded shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $15.00 to $21.00 in a research note on Friday, March 15th. Wells Fargo & Company lowered their price target on shares of Rivian Automotive from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. Finally, Barclays lowered their price target on shares of Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

Rivian Automotive Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71. The stock has a market cap of $10.27 billion, a P/E ratio of -1.79 and a beta of 2.01. The stock’s fifty day simple moving average is $10.24 and its 200-day simple moving average is $13.68.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.03). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. As a group, research analysts forecast that Rivian Automotive, Inc. will post -4.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.49, for a total value of $820,719.21. Following the completion of the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $10,452,349.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of institutional investors and hedge funds have recently made changes to their positions in RIVN. Invesco Ltd. lifted its holdings in shares of Rivian Automotive by 17.7% during the 3rd quarter. Invesco Ltd. now owns 2,808,812 shares of the electric vehicle automaker’s stock worth $68,198,000 after acquiring an additional 422,831 shares during the period. Rathbones Group PLC bought a new stake in shares of Rivian Automotive during the 3rd quarter worth approximately $317,000. V Square Quantitative Management LLC lifted its holdings in shares of Rivian Automotive by 61.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,271 shares of the electric vehicle automaker’s stock worth $104,000 after acquiring an additional 1,630 shares during the period. Hsbc Holdings PLC increased its position in Rivian Automotive by 66.2% during the 3rd quarter. Hsbc Holdings PLC now owns 395,711 shares of the electric vehicle automaker’s stock worth $9,617,000 after purchasing an additional 157,645 shares in the last quarter. Finally, LPL Financial LLC increased its position in Rivian Automotive by 48.5% during the 3rd quarter. LPL Financial LLC now owns 370,107 shares of the electric vehicle automaker’s stock worth $8,986,000 after purchasing an additional 120,883 shares in the last quarter. 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.