Rivian Automotive (NASDAQ:RIVN) Price Target Raised to $14.00 at Barclays

Rivian Automotive (NASDAQ:RIVN) had its price target upped by equities research analysts at Barclays from $10.00 to $14.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the electric vehicle automaker’s stock. Barclays‘s target price indicates a potential upside of 1.60% from the company’s previous close.

A number of other brokerages also recently issued reports on RIVN. Wells Fargo & Company lowered their price target on Rivian Automotive from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. increased their price target on Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 26th. Truist Financial increased their price target on Rivian Automotive from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, June 26th. Guggenheim initiated coverage on Rivian Automotive in a research report on Tuesday, June 25th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Cantor Fitzgerald increased their price target on Rivian Automotive from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Rivian Automotive has a consensus rating of “Moderate Buy” and an average price target of $19.04.

Rivian Automotive Stock Performance

Shares of RIVN traded up $0.36 during mid-day trading on Monday, reaching $13.78. The company had a trading volume of 7,255,005 shares, compared to its average volume of 42,894,918. Rivian Automotive has a 52-week low of $8.26 and a 52-week high of $28.06. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $13.72 billion, a P/E ratio of -2.38 and a beta of 2.07. The stock has a 50 day moving average of $10.68 and a two-hundred day moving average of $13.44.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.03). Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, analysts expect that Rivian Automotive will post -4.93 earnings per share for the current year.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at $10,234,023.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIVN. Ancora Advisors LLC purchased a new stake in Rivian Automotive during the 3rd quarter worth about $27,000. Bear Mountain Capital Inc. acquired a new stake in shares of Rivian Automotive during the fourth quarter worth about $26,000. Principal Securities Inc. acquired a new stake in shares of Rivian Automotive during the fourth quarter worth about $33,000. Arlington Trust Co LLC acquired a new stake in shares of Rivian Automotive during the fourth quarter worth about $35,000. Finally, Fairman Group LLC acquired a new stake in shares of Rivian Automotive during the fourth quarter worth about $36,000. Institutional investors and hedge funds 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.