Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Consensus Rating of “Hold” from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has been given an average rating of “Hold” by the twenty-five research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $15.52.

RIVN has been the subject of several research analyst reports. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 target price (down previously from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Canaccord Genuity Group decreased their target price on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 7th. Needham & Company LLC dropped their target price on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a research report on Friday, November 8th.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $13.65, for a total transaction of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value 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. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 363,142 shares of company stock worth $4,958,860. Corporate insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

Several institutional investors and hedge funds have recently bought and sold shares of RIVN. Baillie Gifford & Co. increased its stake in Rivian Automotive by 52.5% in the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after purchasing an additional 17,341,786 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after buying an additional 2,035,831 shares during the last quarter. abrdn plc increased its position in Rivian Automotive by 17.8% in the 3rd quarter. abrdn plc now owns 3,439,143 shares of the electric vehicle automaker’s stock valued at $38,587,000 after acquiring an additional 518,561 shares during the period. Virtu Financial LLC purchased a new stake in Rivian Automotive during the 3rd quarter valued at approximately $4,184,000. Finally, FORA Capital LLC acquired a new stake in Rivian Automotive during the 3rd quarter worth approximately $3,218,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $12.71 on Wednesday. The business’s fifty day simple moving average is $13.30 and its 200-day simple moving average is $12.90. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm has a market cap of $12.97 billion, a PE ratio of -2.27 and a beta of 2.05. Rivian Automotive has a 52 week low of $8.26 and a 52 week high of $18.85.

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.