Rivian Automotive (RIVN) to Release Quarterly Earnings on Thursday

Rivian Automotive (NASDAQ:RIVN) is projected to issue its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.69) per share and revenue of $1.43 billion for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Rivian Automotive Stock Performance

Shares of NASDAQ:RIVN opened at $12.48 on Thursday. The business’s fifty day moving average price is $13.55 and its two-hundred day moving average price is $12.60. Rivian Automotive has a fifty-two week low of $8.26 and a fifty-two week high of $18.85. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of -2.23 and a beta of 2.04. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $11,879,847.36. This trade represents a 3.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 8,097 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total transaction of $98,783.40. Following the completion of the transaction, the chief financial officer now directly owns 370,401 shares in the company, valued at approximately $4,518,892.20. This represents a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 363,142 shares of company stock worth $4,958,860. 2.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RIVN shares. Truist Financial increased their target price on Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Needham & Company LLC decreased their price target on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group raised their price target on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Benchmark began coverage on Rivian Automotive in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Bank of America cut Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $13.00 in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.13.

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.