Rivian Automotive (NASDAQ:RIVN) Trading Up 0.3%

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price was up 0.3% during trading on Tuesday . The stock traded as high as $12.12 and last traded at $11.95. Approximately 9,877,753 shares traded hands during trading, a decline of 75% from the average daily volume of 40,148,227 shares. The stock had previously closed at $11.91.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RIVN shares. JPMorgan Chase & Co. boosted their price objective on shares of Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 26th. Needham & Company LLC dropped their price objective on shares of Rivian Automotive from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 price objective on shares of Rivian Automotive in a research note on Tuesday, September 10th. Guggenheim started coverage on shares of Rivian Automotive in a report on Tuesday, June 25th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on shares of Rivian Automotive from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.09.

Rivian Automotive Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01. The stock’s 50-day moving average is $14.37 and its two-hundred day moving average is $12.34. The stock has a market cap of $11.82 billion, a P/E ratio of -2.07 and a beta of 2.06.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Equities research analysts anticipate that Rivian Automotive, Inc. will post -4.92 EPS for the current year.

Insider Activity

In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $14.97, for a total value of $1,069,292.13. Following the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at $13,618,074.27. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $14.97, for a total value of $1,069,292.13. Following the transaction, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $13,618,074.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares in the company, valued at $5,328,423.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 429,401 shares of company stock valued at $7,068,569. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Securities Inc. bought a new position in Rivian Automotive during the 4th quarter worth about $33,000. Fairman Group LLC bought a new stake in shares of Rivian Automotive in the 4th quarter valued at about $36,000. Quent Capital LLC boosted its holdings in shares of Rivian Automotive by 74.3% in the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 831 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Rivian Automotive in the 4th quarter valued at about $51,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Rivian Automotive by 552.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 2,610 shares of the electric vehicle automaker’s stock valued at $61,000 after buying an additional 2,210 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

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.