Rivian Automotive, Inc. (NASDAQ:RIVN) Given Average Rating of “Hold” by Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has received an average rating of “Hold” from the twenty-six analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.38.

A number of equities analysts recently commented on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. UBS Group increased their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Baird R W lowered shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Cowen assumed coverage on Rivian Automotive in a report on Thursday, March 6th. They set a “hold” rating for the company.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 35,713 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $11,879,847.36. This trade represents a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,998 shares of company stock valued at $1,744,184. Insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimension Capital Management LLC raised its position in Rivian Automotive by 5.5% during the fourth quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker’s stock valued at $208,000 after purchasing an additional 819 shares in the last quarter. Tradition Wealth Management LLC grew its holdings in shares of Rivian Automotive by 7.2% during the 4th quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker’s stock worth $168,000 after acquiring an additional 849 shares during the period. John G Ullman & Associates Inc. raised its holdings in Rivian Automotive by 9.1% in the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after purchasing an additional 1,000 shares in the last quarter. RFG Holdings Inc. lifted its position in Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock valued at $296,000 after acquiring an additional 1,096 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Rivian Automotive by 4.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock valued at $354,000 after purchasing an additional 1,160 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

RIVN stock opened at $12.19 on Thursday. The company has a market capitalization of $13.78 billion, a P/E ratio of -2.58 and a beta of 2.03. The company has a fifty day moving average price of $12.38 and a 200-day moving average price of $12.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive has a 52-week low of $8.26 and a 52-week high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results 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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, equities analysts expect that Rivian Automotive will post -3.2 EPS for the current 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.