Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Rating of “Hold” by Brokerages

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been given an average rating of “Hold” by the twenty-four brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $15.83.

RIVN has been the subject of several research analyst reports. Benchmark began coverage on Rivian Automotive in a report on Monday. They issued a “buy” rating and a $18.00 price objective for the company. Canaccord Genuity Group reduced their price target on shares of Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, October 7th. Needham & Company LLC lowered their price objective on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Mizuho cut their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Barclays lowered their price target on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 261,307 shares of company stock worth $3,178,479. Corporate insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the third quarter valued at approximately $28,000. GHP Investment Advisors Inc. grew its holdings in shares of Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares in the last quarter. American Capital Advisory LLC increased its position in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Rivian Automotive during the second quarter valued at $37,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Up 11.2 %

Rivian Automotive stock opened at $14.45 on Tuesday. Rivian Automotive has a 12 month low of $8.26 and a 12 month high of $24.61. The stock has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $12.58. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The firm has a market cap of $14.75 billion, a price-to-earnings ratio of -2.58 and a beta of 2.12.

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.