Rivian Automotive (NASDAQ:RIVN) Price Target Raised to $14.00 at Barclays

Rivian Automotive (NASDAQ:RIVN) had its price target lifted by equities research analysts at Barclays from $10.00 to $14.00 in a report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the electric vehicle automaker’s stock. Barclays‘s price objective would indicate a potential upside of 1.60% from the stock’s current price.

RIVN has been the subject of several other research reports. Cantor Fitzgerald lifted their price objective on Rivian Automotive from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. UBS Group lifted their price objective on Rivian Automotive from $10.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday. Jefferies Financial Group initiated coverage on Rivian Automotive in a report on Thursday, March 7th. They issued a “buy” rating and a $16.00 price objective for the company. The Goldman Sachs Group lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Wedbush lifted their price objective on Rivian Automotive from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. 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 data from MarketBeat, Rivian Automotive presently has an average rating of “Moderate Buy” and a consensus price target of $19.04.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN traded up $0.36 during mid-day trading on Monday, reaching $13.78. 7,255,005 shares of the company’s stock were exchanged, compared to its average volume of 42,894,918. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of -2.38 and a beta of 2.07. Rivian Automotive has a 52 week low of $8.26 and a 52 week high of $28.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.71 and a quick ratio of 3.55. The firm has a 50-day moving average price of $10.68 and a two-hundred day moving average price of $13.44.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.03). The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. Analysts predict that Rivian Automotive will post -4.93 EPS for the current year.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now owns 909,691 shares in the company, valued at approximately $10,234,023.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

Hedge funds have recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in Rivian Automotive in the 4th quarter worth approximately $26,000. Ancora Advisors LLC bought a new stake in Rivian Automotive in the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC lifted its position in Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 2,380 shares during the last quarter. Principal Securities Inc. bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $33,000. Finally, Benjamin Edwards Inc. bought a new stake in Rivian Automotive in the first quarter valued at approximately $33,000. Institutional investors 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.