Rivian Automotive (NASDAQ:RIVN) Trading 0.9% Higher – Time to Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price was up 0.9% on Tuesday . The company traded as high as $10.23 and last traded at $10.16. Approximately 8,241,172 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 39,589,055 shares. The stock had previously closed at $10.07.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RIVN shares. Wolfe Research assumed coverage on shares of Rivian Automotive in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their target price on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, October 22nd. Stifel Nicolaus lowered their price target on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Morgan Stanley downgraded Rivian Automotive from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, September 25th. Finally, Barclays cut their price target on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.73.

Rivian Automotive Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock has a market capitalization of $10.44 billion, a P/E ratio of -1.81 and a beta of 2.04. The stock’s fifty day moving average is $11.09 and its two-hundred day moving average is $12.43.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the sale, the chief executive officer now directly owns 886,526 shares of the company’s stock, valued at $12,127,675.68. This trade represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.51% of the stock is currently owned by company insiders.

Institutional Trading of Rivian Automotive

A number of large investors have recently bought and sold shares of the stock. Quent Capital LLC grew its holdings in Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 831 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Rivian Automotive by 975.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 2,380 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares during the period. American Capital Advisory LLC grew its holdings in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after buying an additional 2,111 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after buying an additional 2,900 shares during the period. 66.25% of the stock is currently owned by 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.