Mizuho Forecasts Strong Price Appreciation for Rivian Automotive (NASDAQ:RIVN) Stock

Rivian Automotive (NASDAQ:RIVN) had its target price increased by analysts at Mizuho from $11.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the electric vehicle automaker’s stock. Mizuho’s price objective suggests a potential upside of 0.23% from the company’s current price.

Other equities analysts have also issued reports about the company. Cantor Fitzgerald lowered Rivian Automotive from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $13.00 to $15.00 in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a research note on Friday, November 8th. Bank of America downgraded Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $13.00 in a report on Friday, November 8th. The Goldman Sachs Group boosted 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. Finally, Baird R W downgraded Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.09.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $12.97 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The business has a fifty day simple moving average of $13.56 and a two-hundred day simple moving average of $12.51. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $18.85. The company has a market capitalization of $13.24 billion, a P/E ratio of -2.75 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, analysts expect that Rivian Automotive will post -3.2 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,097 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the sale, the chief financial officer now owns 370,401 shares in the company, valued at approximately $4,518,892.20. This represents a 2.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $9,712,811.25. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 366,788 shares of company stock worth $5,024,431 in the last three months. Corporate insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors have recently bought and sold shares of the business. Gould Capital LLC boosted its holdings in shares of Rivian Automotive by 87.6% during the 4th quarter. Gould Capital LLC now owns 7,025 shares of the electric vehicle automaker’s stock valued at $93,000 after purchasing an additional 3,280 shares during the last quarter. Parr Mcknight Wealth Management Group LLC bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $206,000. Neo Ivy Capital Management boosted its holdings in shares of Rivian Automotive by 23.8% during the 4th quarter. Neo Ivy Capital Management now owns 157,704 shares of the electric vehicle automaker’s stock valued at $2,097,000 after purchasing an additional 30,300 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $34,000. Finally, Elequin Capital LP bought a new position in shares of Rivian Automotive in the 4th quarter valued at about $49,000. 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.