Rivian Automotive (NASDAQ:RIVN) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Rivian Automotive (NASDAQ:RIVN) had its price target lifted by equities researchers at The Goldman Sachs Group from $10.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the electric vehicle automaker’s stock. The Goldman Sachs Group’s target price points to a potential upside of 19.28% from the company’s current price.

Several other analysts have also recently commented on the stock. Barclays decreased their price objective on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 price objective on shares of Rivian Automotive in a research note on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and set a $19.00 price objective on shares of Rivian Automotive in a research note on Monday, September 30th. Needham & Company LLC cut their target price on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Stifel Nicolaus cut their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.73.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $10.06 on Thursday. The company has a current ratio of 5.09, a quick ratio of 4.01 and a debt-to-equity ratio of 0.93. Rivian Automotive has a 12 month low of $8.26 and a 12 month high of $24.61. The company has a 50 day simple moving average of $11.09 and a two-hundred day simple moving average of $12.38. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of -1.80 and a beta of 2.04.

Insider Buying and Selling

In other news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the completion of the sale, the chief executive officer now owns 886,526 shares of the company’s stock, valued at $10,319,162.64. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Rivian Automotive

A number of large investors have recently modified their holdings of RIVN. Quent Capital LLC boosted its position in shares of Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Rivian Automotive by 975.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 2,380 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares during the last quarter. American Capital Advisory LLC boosted its position in shares of Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 2,900 shares during the last quarter. Hedge funds and other 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.