Rivian Automotive (NASDAQ:RIVN) Shares Up 3.8%

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price traded up 3.8% on Monday . The stock traded as high as $12.18 and last traded at $12.15. 15,696,803 shares traded hands during trading, a decline of 61% from the average session volume of 40,204,324 shares. The stock had previously closed at $11.71.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RIVN shares. Piper Sandler reaffirmed an “overweight” rating and issued a $21.00 target price on shares of Rivian Automotive in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $14.00 target price on shares of Rivian Automotive in a report on Tuesday, September 10th. DA Davidson increased their target price on Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. UBS Group dropped their price target on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $19.00 price target on shares of Rivian Automotive in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Rivian Automotive has a consensus rating of “Hold” and an average target price of $18.09.

Rivian Automotive Trading Up 1.5 %

The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average price is $14.48 and its two-hundred day moving average price is $12.35. The company has a market capitalization of $11.83 billion, a PE ratio of -2.08 and a beta of 2.06.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -4.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at $5,328,423.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $10,234,023.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the sale, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The disclosure for this sale can be found here. Insiders sold 500,830 shares of company stock worth $7,872,145 over the last three months. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds have recently modified their holdings of RIVN. Principal Securities Inc. purchased a new stake in Rivian Automotive during the fourth quarter valued at approximately $33,000. Fairman Group LLC purchased a new position in shares of Rivian Automotive in the fourth quarter worth $36,000. Quent Capital LLC raised its holdings in shares of Rivian Automotive by 74.3% in the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after buying an additional 831 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Rivian Automotive in the fourth quarter worth $51,000. Finally, FinTrust Capital Advisors LLC grew its position in Rivian Automotive by 552.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 2,610 shares of the electric vehicle automaker’s stock valued at $61,000 after buying an additional 2,210 shares during the period. 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.