Aire Advisors LLC Acquires Shares of 10,081 Rivian Automotive, Inc. (NASDAQ:RIVN)

Aire Advisors LLC bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,081 shares of the electric vehicle automaker’s stock, valued at approximately $134,000.

Several other institutional investors and hedge funds have also made changes to their positions in RIVN. Tandem Financial LLC purchased a new position in Rivian Automotive during the fourth quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at about $27,000. Wilmington Savings Fund Society FSB acquired a new stake in Rivian Automotive during the third quarter worth about $28,000. Bear Mountain Capital Inc. raised its stake in Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock worth $36,000 after purchasing an additional 1,932 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RIVN. Needham & Company LLC lifted their price target on shares of Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Baird R W cut Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Rivian Automotive in a report on Tuesday, March 18th. UBS Group increased their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Mizuho dropped their target price on shares of Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.38.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $13,960,547.37. This represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 transaction of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $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. Insiders sold 113,998 shares of company stock worth $1,744,184 in the last 90 days. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $12.19 on Tuesday. 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 50 day moving average is $12.38 and its two-hundred day moving average is $12.15. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of -2.58 and a beta of 2.03. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current 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.