Rivian Automotive, Inc. (NASDAQ:RIVN – Get Free Report) has been given a consensus rating of “Hold” by the twenty-three brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $17.09.
A number of research analysts recently weighed in on RIVN shares. Canaccord Genuity Group cut their target price on shares of Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 7th. Barclays cut their target price on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $19.00 price objective on shares of Rivian Automotive in a research note on Monday, September 30th. The Goldman Sachs Group dropped their price objective on shares of Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Finally, Wolfe Research began coverage on shares of Rivian Automotive in a research note on Thursday, September 5th. They set a “peer perform” rating for the company.
Read Our Latest Report on RIVN
Insider Activity at Rivian Automotive
Hedge Funds Weigh In On Rivian Automotive
Large investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its holdings in Rivian Automotive by 543.8% in the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock worth $1,601,000 after purchasing an additional 120,544 shares in the last quarter. Renaissance Capital LLC raised its holdings in Rivian Automotive by 20.0% in the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock worth $9,958,000 after purchasing an additional 148,197 shares in the last quarter. Private Advisory Group LLC bought a new position in Rivian Automotive in the third quarter worth about $2,109,000. Royal London Asset Management Ltd. raised its holdings in Rivian Automotive by 19.6% in the second quarter. Royal London Asset Management Ltd. now owns 300,076 shares of the electric vehicle automaker’s stock worth $4,027,000 after purchasing an additional 49,216 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Rivian Automotive by 102.8% during the second quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker’s stock worth $33,276,000 after acquiring an additional 1,257,106 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.
Rivian Automotive Trading Up 0.2 %
RIVN stock opened at $10.45 on Monday. The firm has a fifty day moving average price of $12.04 and a 200 day moving average price of $12.24. Rivian Automotive has a fifty-two week low of $8.26 and a fifty-two 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 firm has a market cap of $10.54 billion, a PE ratio of -1.75 and a beta of 2.03.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last posted 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 net margin of 115.50% and a negative return on equity of 65.40%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Sell-side analysts anticipate that Rivian Automotive will post -4.88 earnings per share for the current fiscal year.
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.
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