Brokerages Set Rivian Automotive, Inc. (NASDAQ:RIVN) Target Price at $15.74

Rivian Automotive, Inc. (NASDAQ:RIVN) has received an average recommendation of “Hold” from the twenty-five analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $15.48.

Several research firms have issued reports on RIVN. Bank of America downgraded shares of Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $13.00 in a report on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, October 22nd. Canaccord Genuity Group lowered their price target on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 7th. Mizuho lowered their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Rivian Automotive in a report on Monday.

Insider Buying and Selling at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,429 shares of company stock worth $4,467,450 over the last three months. Insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RIVN. Certuity LLC lifted its holdings in Rivian Automotive by 8.1% during the 2nd quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock worth $145,000 after buying an additional 815 shares in the last quarter. John G Ullman & Associates Inc. grew its stake in shares of Rivian Automotive by 9.1% in the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after acquiring an additional 1,000 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares during the period. Intech Investment Management LLC raised its stake in shares of Rivian Automotive by 1.4% in the second quarter. Intech Investment Management LLC now owns 76,967 shares of the electric vehicle automaker’s stock valued at $1,033,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its stake in Rivian Automotive by 11.9% during the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock worth $132,000 after purchasing an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Down 4.9 %

Shares of NASDAQ:RIVN opened at $14.21 on Friday. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of -2.54 and a beta of 2.05. The business’s 50 day moving average price is $12.37 and its 200-day moving average price is $13.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $19.76.

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.