Rivian Automotive (NASDAQ:RIVN) PT Lowered to $70.00 at Mizuho

Rivian Automotive (NASDAQ:RIVNGet Rating) had its target price decreased by Mizuho from $80.00 to $70.00 in a research note published on Monday, The Fly reports. Mizuho currently has a buy rating on the electric vehicle automaker’s stock.

Other research analysts have also issued research reports about the company. Wolfe Research reduced their price objective on Rivian Automotive from $130.00 to $78.00 and set an outperform rating for the company in a research report on Friday, March 11th. Wedbush lowered their price target on shares of Rivian Automotive from $60.00 to $30.00 in a research report on Thursday, May 12th. Exane BNP Paribas upgraded shares of Rivian Automotive from an underperform rating to a neutral rating in a research report on Thursday, May 12th. Wells Fargo & Company reduced their target price on shares of Rivian Automotive from $40.00 to $24.00 in a research note on Wednesday, May 11th. Finally, Morgan Stanley dropped their price target on shares of Rivian Automotive from $85.00 to $60.00 and set an overweight rating on the stock in a research note on Tuesday, May 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of 69.82.

Shares of NASDAQ:RIVN opened at 26.27 on Monday. The company’s fifty day moving average is 28.82 and its two-hundred day moving average is 52.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.19 and a quick ratio of 10.86. Rivian Automotive has a 1-year low of 19.25 and a 1-year high of 179.47.

Rivian Automotive (NASDAQ:RIVNGet Rating) last announced its quarterly earnings data on Wednesday, May 11th. The electric vehicle automaker reported -1.43 earnings per share for the quarter, beating analysts’ consensus estimates of -1.50 by 0.07. The business had revenue of 95.00 million for the quarter, compared to the consensus estimate of 113.64 million. Equities analysts predict that Rivian Automotive will post -6.39 earnings per share for the current fiscal year.

In other Rivian Automotive news, CAO Jeff Baker sold 6,034 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of 25.56, for a total value of 154,229.04. Following the sale, the chief accounting officer now directly owns 80,778 shares in the company, valued at approximately 2,064,685.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay T. Flatley acquired 40,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were bought at an average cost of 29.31 per share, with a total value of 1,172,400.00. Following the transaction, the director now directly owns 92,616 shares of the company’s stock, valued at approximately 2,714,574.96. The disclosure for this purchase can be found here. Insiders sold a total of 15,006,926 shares of company stock worth $402,737,029 over the last quarter. 2.34% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of RIVN. Sargent Bickham Lagudis LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $25,000. Global Wealth Management Investment Advisory Inc. bought a new stake in Rivian Automotive in the 4th quarter valued at $25,000. Perkins Coie Trust Co bought a new stake in Rivian Automotive in the 1st quarter valued at $25,000. TCTC Holdings LLC acquired a new position in shares of Rivian Automotive in the 1st quarter valued at $25,000. Finally, Baldwin Brothers LLC MA bought a new position in shares of Rivian Automotive during the 4th quarter worth about $26,000. 78.67% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Company Profile (Get Rating)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

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