Caxton Associates LP Purchases Shares of 76,030 Rivian Automotive, Inc. (NASDAQ:RIVN)

Caxton Associates LP acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 76,030 shares of the electric vehicle automaker’s stock, valued at approximately $1,011,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RIVN. Tandem Financial LLC purchased a new position in Rivian Automotive during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Rivian Automotive during the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rivian Automotive during the 3rd quarter worth about $28,000. Bear Mountain Capital Inc. boosted its position in shares of Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock worth $36,000 after acquiring an additional 1,932 shares during the last quarter. Finally, Quarry LP purchased a new stake in Rivian Automotive in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Down 2.0 %

Shares of NASDAQ:RIVN opened at $13.55 on Tuesday. Rivian Automotive, Inc. has a 12-month low of $9.25 and a 12-month high of $18.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The firm has a market cap of $15.32 billion, a PE ratio of -2.87 and a beta of 1.86. The company has a fifty day simple moving average of $11.83 and a 200 day simple moving average of $12.27.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. On average, equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America downgraded shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. Barclays lifted their target price on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Truist Financial increased their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company increased their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Rivian Automotive currently has a consensus rating of “Hold” and an average target price of $14.08.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares of the company’s stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $11.82, for a total transaction of $844,290.78. Following the sale, the chief executive officer now owns 853,011 shares of the company’s stock, valued at approximately $10,082,590.02. The trade was a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,427 shares of company stock valued at $2,154,905 in the last quarter. Insiders own 2.51% of the company’s stock.

Rivian Automotive Company Profile

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.