Rivian Automotive (NASDAQ:RIVN) Trading 3.8% Higher

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price traded up 3.8% during trading on Monday . The stock traded as high as $12.18 and last traded at $12.15. 15,696,803 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 40,204,324 shares. The stock had previously closed at $11.71.

Wall Street Analyst Weigh In

RIVN has been the subject of a number of recent research reports. Truist Financial raised their target price on Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Rivian Automotive from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Wolfe Research started coverage on shares of Rivian Automotive in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Piper Sandler reiterated an “overweight” rating and issued a $21.00 target price on shares of Rivian Automotive in a research note on Wednesday, June 26th. Finally, Barclays upped their price target on shares of Rivian Automotive from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.91.

Rivian Automotive Trading Down 6.8 %

The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average of $14.25 and a two-hundred day moving average of $12.33. The company has a market capitalization of $10.98 billion, a PE ratio of -1.91 and a beta of 2.06.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). The firm had revenue of $1.16 billion during 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%. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -4.8 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 200,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $18.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the chief executive officer now owns 909,691 shares of the company’s stock, valued at $16,374,438. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $43,559.70. Following the completion of the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 200,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $18.00, for a total transaction of $3,600,000.00. Following the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at $16,374,438. The disclosure for this sale can be found here. Insiders have sold 429,401 shares of company stock worth $7,068,569 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RIVN. Centaurus Financial Inc. raised its holdings in Rivian Automotive by 35.2% in the 2nd quarter. Centaurus Financial Inc. now owns 12,843 shares of the electric vehicle automaker’s stock worth $172,000 after acquiring an additional 3,347 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Rivian Automotive in the second quarter worth $550,000. Cetera Investment Advisers lifted its holdings in shares of Rivian Automotive by 9.5% during the second quarter. Cetera Investment Advisers now owns 210,381 shares of the electric vehicle automaker’s stock valued at $2,823,000 after purchasing an additional 18,243 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Rivian Automotive by 149.5% during the second quarter. B. Riley Wealth Advisors Inc. now owns 52,117 shares of the electric vehicle automaker’s stock valued at $699,000 after purchasing an additional 31,232 shares in the last quarter. Finally, Regal Investment Advisors LLC boosted its position in shares of Rivian Automotive by 7.0% during the second quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle automaker’s stock valued at $262,000 after buying an additional 1,281 shares during the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.