Rivian Automotive, Inc. $RIVN Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 21.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,926,165 shares of the electric vehicle automaker’s stock after selling 513,019 shares during the period. Hsbc Holdings PLC’s holdings in Rivian Automotive were worth $37,970,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RIVN. Core Wealth Advisors LLC acquired a new position in Rivian Automotive in the fourth quarter worth about $27,000. SOA Wealth Advisors LLC. increased its holdings in Rivian Automotive by 894.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock valued at $31,000 after buying an additional 1,395 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Rivian Automotive during the fourth quarter valued at approximately $33,000. Glass Jacobson Investment Advisors llc raised its stake in Rivian Automotive by 96.3% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock valued at $34,000 after buying an additional 852 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Rivian Automotive by 113.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Trading Down 1.4%

Shares of NASDAQ RIVN opened at $14.89 on Wednesday. Rivian Automotive, Inc. has a 12-month low of $11.57 and a 12-month high of $22.69. The company has a market cap of $18.48 billion, a price-to-earnings ratio of -5.10 and a beta of 1.62. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00. The stock’s 50 day simple moving average is $15.66 and its 200 day simple moving average is $16.34.

Key Stories Impacting Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Some analysts say Rivian could benefit from a stronger EV funding and demand backdrop, with one article arguing the SpaceX IPO is indirectly positive for Rivian because a well-capitalized SpaceX may support broader risk appetite for growth stocks. The SpaceX IPO Should Help Rivian. Here’s How.
• Positive Sentiment: A bullish take highlighted Rivian’s new R2 platform as a key catalyst, saying it could be a “Model 3 moment” for the company by lowering costs and improving the path toward gross-margin profitability. Rivian: The Right EV Stock To Bank On As R2 Launches
• Neutral Sentiment: One recent article said Rivian may be at a “make-or-break” point, but the direction of the stock may not be clear for a few quarters as investors wait for more evidence on execution. Down 22% This Year, Is Rivian Stock Overdue for a Rally?
• Neutral Sentiment: EV-sector coverage noted Rivian has held steadier than Tesla during a volatile session, suggesting relative resilience even as the broader EV trade remains choppy. Tesla Declines 5% While Lucid and Rivian Hold Steady: What’s Going On With EV Stocks Today?
• Negative Sentiment: Several articles pointed to renewed weakness in Rivian shares, with one saying the stock was sliding as investors focused on the company’s longer-dated automation story and soft risk appetite across consumer discretionary names. Rivian Stock Is Sliding Monday: What’s Driving The Action?
• Negative Sentiment: Jim Cramer’s comments were also a headwind, saying Rivian is “losing too much money,” reinforcing investor concerns about profitability and cash burn. Jim Cramer on Rivian: “It’s Losing Too Much Money, Sorry”
• Negative Sentiment: Recent market reports also said Rivian fell more sharply than the broader market, reflecting ongoing pressure on the stock as investors digest a larger selloff in the shares. Rivian Automotive (RIVN) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Analyst Ratings Changes

RIVN has been the subject of several research reports. Bank of America began coverage on Rivian Automotive in a research report on Wednesday, March 4th. They issued an “underperform” rating and a $14.00 target price for the company. TD Cowen reissued a “buy” rating and set a $20.00 price target on shares of Rivian Automotive in a research report on Wednesday, June 3rd. Jefferies Financial Group restated a “hold” rating and set a $15.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 3rd. Wall Street Zen raised shares of Rivian Automotive from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $22.00 target price on shares of Rivian Automotive in a research note on Monday, April 6th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, Rivian Automotive presently has an average rating of “Hold” and an average target price of $18.57.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 34,818 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $522,270.00. Following the completion of the transaction, the chief executive officer owned 922,286 shares of the company’s stock, valued at approximately $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the transaction, the chief financial officer owned 887,007 shares of the company’s stock, valued at $14,192,112. This represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,340 shares of company stock worth $1,560,246 over the last ninety days. 1.48% of the stock is owned by corporate insiders.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.