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

Rivian Automotive, Inc. (NASDAQ:RIVN) has been assigned a consensus rating of “Hold” from the twenty-six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $14.64.

RIVN has been the topic of a number of recent research reports. Truist Financial raised their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their price objective on Rivian Automotive from $11.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Bank of America cut Rivian Automotive from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $13.00 to $10.00 in a research note on Monday, February 24th. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Rivian Automotive in a research note on Tuesday.

Rivian Automotive Price Performance

RIVN opened at $11.36 on Thursday. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $18.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $12.52 and its 200-day simple moving average is $12.20. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of -2.41 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating 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 company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, equities research analysts anticipate that Rivian Automotive will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $13.88, for a total value of $991,434.52. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,983,450.68. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,427 shares of company stock valued at $2,735,619. 2.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Rivian Automotive by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker’s stock valued at $63,055,000 after buying an additional 133,781 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Rivian Automotive by 42.7% in the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock valued at $2,404,000 after buying an additional 54,053 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $1,382,000. Alberta Investment Management Corp purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $6,648,000. Finally, Illinois Municipal Retirement Fund increased its position in shares of Rivian Automotive by 36.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 148,423 shares of the electric vehicle automaker’s stock valued at $1,974,000 after buying an additional 39,751 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

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.