Rivian Automotive (NASDAQ:RIVN) Trading Up 5.5% – Still a Buy?

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) shot up 5.5% on Monday . The stock traded as high as $14.19 and last traded at $14.03. 33,856,768 shares traded hands during trading, an increase of 22% from the average session volume of 27,819,302 shares. The stock had previously closed at $13.30.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RIVN shares. Mizuho decreased their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Guggenheim lowered their price objective on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of Rivian Automotive in a research report on Monday, January 6th. Bank of America downgraded shares of Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $13.00 in a research report on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.13.

Rivian Automotive Stock Performance

The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of -2.49 and a beta of 2.04. The company’s fifty day simple moving average is $13.59 and its 200 day simple moving average is $12.52. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $9,712,811.25. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Claire Mcdonough sold 18,501 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the transaction, the chief financial officer now owns 351,900 shares in the company, valued at $5,278,500. The trade was a 4.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 359,932 shares of company stock worth $4,926,664. Insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of institutional investors have recently bought and sold shares of RIVN. Tandem Financial LLC bought a new position in shares of Rivian Automotive during the fourth quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new stake in Rivian Automotive during the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the 3rd quarter worth $28,000. GHP Investment Advisors Inc. raised its holdings in Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares in the last quarter. Finally, American Capital Advisory LLC lifted its position in shares of Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Institutional investors own 66.25% of the company’s stock.

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.