Rivian Automotive (RIVN) Set to Announce Quarterly Earnings on Tuesday

Rivian Automotive (NASDAQ:RIVN) will announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($1.13) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating the consensus estimate of ($1.67) by $0.09. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. On average, analysts expect Rivian Automotive to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $10.07 on Friday. The stock has a 50 day simple moving average of $10.40 and a 200 day simple moving average of $15.15. The stock has a market cap of $9.84 billion, a P/E ratio of -1.75 and a beta of 1.91. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $28.06. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RIVN shares. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 target price on shares of Rivian Automotive in a report on Wednesday, April 3rd. Morgan Stanley dropped their price objective on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Bank of America decreased their target price on shares of Rivian Automotive from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Evercore ISI lowered their target price on shares of Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Finally, Truist Financial reiterated a “hold” rating and issued a $10.00 price target (down from $11.00) on shares of Rivian Automotive in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.57.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction 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 approximately $2,523,133.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the sale, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,306 shares of company stock valued at $717,274. 2.30% of the stock is currently owned by corporate insiders.

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.