Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $18.14 Consensus PT from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has received a consensus rating of “Hold” from the twenty-three brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $18.14.

Several equities analysts have commented on the stock. Guggenheim started coverage on shares of Rivian Automotive in a research report on Tuesday, June 25th. They set a “buy” rating and a $18.00 price objective for the company. UBS Group decreased their price objective on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Truist Financial lifted their target price on Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Mizuho boosted their target price on Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, Morgan Stanley raised their price target on Rivian Automotive from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th.

Insider Transactions at Rivian Automotive

In related 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 value of $43,559.70. Following the completion of the sale, the chief financial officer now directly owns 392,662 shares in the company, valued at $5,328,423.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the 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 sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $10,234,023.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the transaction, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 488,926 shares of company stock valued at $7,552,869. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently added to or reduced their stakes in RIVN. Price T Rowe Associates Inc. MD grew its position in shares of Rivian Automotive by 35.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock worth $2,277,304,000 after buying an additional 25,550,489 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Rivian Automotive by 1.8% during the first quarter. Vanguard Group Inc. now owns 69,539,602 shares of the electric vehicle automaker’s stock worth $761,459,000 after purchasing an additional 1,226,357 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Rivian Automotive by 30.5% during the 2nd quarter. Baillie Gifford & Co. now owns 33,015,793 shares of the electric vehicle automaker’s stock valued at $443,072,000 after purchasing an additional 7,714,788 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rivian Automotive by 1,521.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after purchasing an additional 5,937,605 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Rivian Automotive in the 4th quarter worth $129,427,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Down 6.9 %

Shares of Rivian Automotive stock opened at $13.15 on Friday. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $24.87. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $15.01 and a 200-day moving average price of $12.25. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of -2.28 and a beta of 2.09.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. Equities research analysts anticipate that Rivian Automotive will post -4.72 EPS for the current fiscal year.

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.