Rivian Automotive (NASDAQ:RIVN) Trading 2.2% Higher – What’s Next?

Rivian Automotive, Inc. (NASDAQ:RIVN) shares traded up 2.2% during mid-day trading on Tuesday . The stock traded as high as $14.26 and last traded at $14.34. 18,638,684 shares traded hands during trading, a decline of 42% from the average session volume of 32,342,822 shares. The stock had previously closed at $14.03.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. 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 note on Friday, November 8th. Stifel Nicolaus decreased their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a research note on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 target price for the company. Finally, Mizuho decreased their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Rivian Automotive has a consensus rating of “Hold” and a consensus price target of $15.13.

Rivian Automotive Stock Down 2.3 %

The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of -2.43 and a beta of 2.04. The stock’s fifty day simple moving average is $13.59 and its two-hundred day simple moving average is $12.54. 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 (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 121.38% and a negative return on equity of 72.78%. On average, sell-side analysts predict that Rivian Automotive, Inc. will post -4.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.00, for a total transaction of $277,515.00. Following the transaction, the chief financial officer now owns 351,900 shares of the company’s stock, valued at approximately $5,278,500. This trade represents a 4.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,788 shares of company stock valued at $5,024,431 in the last quarter. Company insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Several large investors have recently bought and sold shares of RIVN. Tandem Financial LLC acquired a new position in Rivian Automotive during the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rivian Automotive during the 3rd quarter valued at about $28,000. GHP Investment Advisors Inc. boosted its position in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares in the last quarter. Finally, American Capital Advisory LLC boosted 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 purchasing an additional 2,111 shares in the last quarter. Institutional investors and hedge funds 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.