Rivian Automotive (NASDAQ:RIVN) Trading Down 1.8% – Time to Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN) shares traded down 1.8% during mid-day trading on Monday . The stock traded as low as $11.89 and last traded at $12.33. 10,914,188 shares were traded during mid-day trading, a decline of 70% from the average session volume of 36,729,727 shares. The stock had previously closed at $12.56.

Analysts Set New Price Targets

A number of equities analysts have commented on RIVN shares. Barclays upped their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Mizuho reduced their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Guggenheim dropped their target price on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Piper Sandler reduced their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Bank of America lowered Rivian Automotive from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $13.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.13.

Rivian Automotive Trading Down 0.8 %

The firm has a market cap of $13.03 billion, a price-to-earnings ratio of -2.28 and a beta of 2.04. The business has a 50 day moving average of $13.48 and a 200 day moving average of $12.74. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 8,097 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the transaction, the chief financial officer now directly owns 370,401 shares in the company, valued at $4,518,892.20. This trade represents a 2.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $9,712,811.25. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 363,142 shares of company stock valued at $4,958,860 in the last ninety days. Insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after purchasing an additional 2,035,831 shares during the period. International Assets Investment Management LLC increased its stake in Rivian Automotive by 1,870.7% during the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after buying an additional 51,464 shares during the period. Mizuho Markets Americas LLC lifted its holdings in Rivian Automotive by 30.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after buying an additional 124,950 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Rivian Automotive by 543.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock valued at $1,601,000 after buying an additional 120,544 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Rivian Automotive by 42.7% during the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock valued at $2,404,000 after acquiring an additional 54,053 shares in the last quarter. 66.25% of the stock is currently 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.