Recent Investment Analysts’ Ratings Changes for Rivian Automotive (RIVN)

Several analysts have recently updated their ratings and price targets for Rivian Automotive (NASDAQ: RIVN):

• 10/22/2024 – Rivian Automotive had its price target lowered by analysts at JPMorgan Chase & Co. from $14.00 to $12.00. They now have an “underweight” rating on the stock.
• 10/16/2024 – Rivian Automotive had its price target lowered by analysts at Truist Financial Co. from $16.00 to $12.00. They now have a “hold” rating on the stock.
• 10/15/2024 – Rivian Automotive had its price target lowered by analysts at Barclays PLC from $16.00 to $13.00. They now have an “equal weight” rating on the stock.
• 10/15/2024 – Rivian Automotive had its price target lowered by analysts at Wells Fargo & Company from $15.00 to $11.00. They now have an “equal weight” rating on the stock.
• 10/8/2024 – Rivian Automotive had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $13.00 to $11.00. They now have a “neutral” rating on the stock.
• 10/7/2024 – Rivian Automotive had its price target lowered by analysts at Canaccord Genuity Group Inc. from $30.00 to $28.00. They now have a “buy” rating on the stock.
• 9/30/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/25/2024 – Rivian Automotive was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $13.00 price target on the stock, down previously from $16.00.
• 9/23/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/16/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/10/2024 – Rivian Automotive had its “hold” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $14.00 price target on the stock.
• 9/9/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/5/2024 – Rivian Automotive is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
• 9/3/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.

Rivian Automotive Stock Down 3.1 %

Shares of NASDAQ RIVN opened at $10.16 on Thursday. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $24.61. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25. The stock has a market cap of $10.11 billion, a P/E ratio of -1.76 and a beta of 2.03. The firm has a 50 day moving average price of $12.17 and a 200 day moving average price of $12.25.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. Analysts expect that Rivian Automotive, Inc. will post -4.88 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the sale, the chief financial officer now directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the completion of the transaction, the chief executive officer now owns 886,526 shares of the company’s stock, valued at $10,319,162.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 169,876 shares of company stock worth $2,153,551 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Rivian Automotive

Several hedge funds and other institutional investors have recently modified their holdings of the company. Global Assets Advisory LLC bought a new position in shares of Rivian Automotive during the first quarter worth about $574,000. Vicus Capital raised its holdings in shares of Rivian Automotive by 11.6% in the first quarter. Vicus Capital now owns 13,633 shares of the electric vehicle automaker’s stock valued at $149,000 after purchasing an additional 1,422 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Rivian Automotive in the first quarter worth $265,000. Albion Financial Group UT lifted its position in shares of Rivian Automotive by 346.4% in the first quarter. Albion Financial Group UT now owns 104,181 shares of the electric vehicle automaker’s stock worth $1,141,000 after purchasing an additional 80,841 shares in the last quarter. Finally, Norden Group LLC acquired a new position in Rivian Automotive during the first quarter worth $132,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

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.