Rivian Automotive (NASDAQ:RIVN – Free Report) had its price objective boosted by UBS Group from $10.00 to $17.00 in a research report report published on Friday morning, Benzinga reports. UBS Group currently has a neutral rating on the electric vehicle automaker’s stock.
RIVN has been the topic of several other research reports. Cantor Fitzgerald raised their price target on Rivian Automotive from $15.00 to $19.00 and gave the company an overweight rating in a research note on Wednesday. Wedbush raised their price target on Rivian Automotive from $15.00 to $20.00 and gave the company an outperform rating in a research note on Wednesday. Morgan Stanley restated an overweight rating and set a $13.00 price target on shares of Rivian Automotive in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $15.00 target price on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Finally, Jefferies Financial Group assumed coverage on Rivian Automotive in a research note on Thursday, March 7th. They issued a buy rating and a $16.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Rivian Automotive has a consensus rating of Moderate Buy and a consensus price target of $19.63.
View Our Latest Report on RIVN
Rivian Automotive Stock Down 7.3 %
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. Research analysts expect that Rivian Automotive will post -4.94 EPS for the current year.
Insider Buying and Selling
In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at $10,234,023.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.
Institutional Investors Weigh In On Rivian Automotive
Institutional investors and hedge funds have recently modified their holdings of the company. Ancora Advisors LLC acquired a new stake in shares of Rivian Automotive during the third quarter worth about $27,000. Bear Mountain Capital Inc. acquired a new position in Rivian Automotive in the fourth quarter valued at approximately $26,000. Principal Securities Inc. acquired a new position in Rivian Automotive in the fourth quarter valued at approximately $33,000. Arlington Trust Co LLC acquired a new position in Rivian Automotive in the fourth quarter valued at approximately $35,000. Finally, Fairman Group LLC acquired a new position in Rivian Automotive in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 66.25% of the company’s stock.
Rivian Automotive Company Profile
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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