Rivian Automotive (NASDAQ:RIVN) Upgraded to “Neutral” at UBS Group

Rivian Automotive (NASDAQ:RIVN) was upgraded by investment analysts at UBS Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm currently has a $9.00 price target on the electric vehicle automaker’s stock. UBS Group’s price target points to a potential upside of 2.97% from the company’s current price.

Several other analysts also recently issued reports on RIVN. Jefferies Financial Group assumed coverage on shares of Rivian Automotive in a report on Thursday, March 7th. They set a “buy” rating and a $16.00 price objective for the company. The Goldman Sachs Group dropped their price target on Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 price target on shares of Rivian Automotive in a research report on Tuesday, April 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price objective on shares of Rivian Automotive in a report on Wednesday, April 3rd. Finally, Mizuho reiterated a “neutral” rating and issued a $12.00 price target on shares of Rivian Automotive in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.91.

Rivian Automotive Stock Up 0.3 %

RIVN stock opened at $8.74 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90. The firm has a market capitalization of $8.54 billion, a P/E ratio of -1.52 and a beta of 1.88. Rivian Automotive has a 52-week low of $8.26 and a 52-week high of $28.06. The company’s 50 day simple moving average is $11.85 and its 200-day simple moving average is $16.08.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. As a group, equities research analysts anticipate that Rivian Automotive will post -4.8 EPS for the current year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the sale, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the sale, the insider now directly owns 407,787 shares in the company, valued at $5,223,751.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,306 shares of company stock valued at $717,274. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Rivian Automotive

Several institutional investors and hedge funds have recently bought and sold shares of RIVN. Vicus Capital boosted its stake in shares of Rivian Automotive by 11.6% during the 1st quarter. Vicus Capital now owns 13,633 shares of the electric vehicle automaker’s stock worth $149,000 after acquiring an additional 1,422 shares during the period. RFG Holdings Inc. lifted its holdings in Rivian Automotive by 74.7% during the 1st quarter. RFG Holdings Inc. now owns 17,914 shares of the electric vehicle automaker’s stock valued at $196,000 after purchasing an additional 7,659 shares during the last quarter. Austin Private Wealth LLC boosted its position in Rivian Automotive by 64.7% during the first quarter. Austin Private Wealth LLC now owns 25,787 shares of the electric vehicle automaker’s stock worth $272,000 after purchasing an additional 10,128 shares during the period. Strategic Planning Group LLC acquired a new position in shares of Rivian Automotive in the first quarter valued at $867,000. Finally, Global Assets Advisory LLC bought a new position in shares of Rivian Automotive in the first quarter valued at about $574,000. Institutional investors own 66.25% of the company’s stock.

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.