Rivian Automotive (NASDAQ:RIVN) Price Target Cut to $15.00 by Analysts at DA Davidson

Rivian Automotive (NASDAQ:RIVN) had its price target lowered by DA Davidson from $17.00 to $15.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the electric vehicle automaker’s stock.

A number of other analysts have also issued reports on RIVN. Wall Street Zen lowered Rivian Automotive from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. UBS Group upgraded shares of Rivian Automotive from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Monday, November 2nd. Piper Sandler upgraded shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $20.00 in a report on Monday, July 27th. Citigroup started coverage on shares of Rivian Automotive in a research report on Monday, September 14th. They set a “hold” rating and a $18.00 price objective for the company. Finally, Stifel Nicolaus set a $22.00 target price on shares of Rivian Automotive in a research note on Monday, August 24th. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.50.

Rivian Automotive Stock Performance

RIVN traded up $0.32 on Friday, hitting $13.61. The company had a trading volume of 20,165,936 shares, compared to its average volume of 28,448,698. The company’s fifty day moving average price is $14.21 and its 200 day moving average price is $15.40. Rivian Automotive has a 1-year low of $11.38 and a 1-year high of $22.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.18 and a quick ratio of 1.70. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of -6.05 and a beta of 1.64.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Thursday, October 29th. The electric vehicle automaker reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.16. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2 billion. Rivian Automotive had a negative return on equity of 69.68% and a negative net margin of 45.88%. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.08) earnings per share. Equities analysts predict that Rivian Automotive will post -2.72 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michael John Callahan sold 15,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $15.00, for a total transaction of $225,000.00. Following the sale, the insider owned 1,001,776 shares of the company’s stock, valued at $15,026,640. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire McDonough sold 8,023 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the sale, the chief financial officer owned 819,178 shares in the company, valued at $13,106,848. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 51,167 shares of company stock valued at $788,306 over the last 90 days. Corporate insiders own 1.48% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of large investors have recently added to or reduced their stakes in RIVN. Jacobi Capital Management LLC acquired a new position in Rivian Automotive in the 3rd quarter valued at about $25,000. MCF Advisors LLC raised its holdings in Rivian Automotive by 3,500.0% during the 2nd quarter. MCF Advisors LLC now owns 1,800 shares of the electric vehicle automaker’s stock worth $31,000 after purchasing an additional 1,750 shares during the last quarter. Ancora Advisors LLC bought a new position in Rivian Automotive during the second quarter worth $44,000. Oslo Pensjonsforsikring AS acquired a new position in Rivian Automotive during the 1st quarter worth approximately $39,000. Finally, Heritage Family Offices LLP bought a new stake in shares of Rivian Automotive during the third quarter worth about $49,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Key Stories Impacting Rivian Automotive

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

• Positive Sentiment: Sales of Rivian’s lower-priced model are reportedly ahead of expectations, a potentially important sign that the company can broaden demand beyond its premium vehicles. Did I Call the Bottom With Rivian Stock?
• Positive Sentiment: Investors are also weighing whether improving expected cash flow could support Rivian’s valuation. The article notes recent bank upgrades, although it frames the valuation question as unresolved. Is Rivian Automotive (RIVN) A Bargain As Cash Flow Improves?
• Positive Sentiment: The R2 has received recognition from Top Gear and MotorTrend, which may help build awareness ahead of Rivian’s planned European entry. Awards are supportive publicity, but do not by themselves guarantee sales. Rivian’s R2 Is Winning More Than Trophies and Fans
• Neutral Sentiment: A Trefis article highlights the question of who is financing Rivian’s cash burn, keeping funding needs in focus without the supplied summary providing further details. Who Is Paying For Rivian’s Cash Burn?
• Negative Sentiment: DA Davidson cut its price target from $17 to $15 and maintained a neutral rating. The revised target still implies upside from the cited share price, but the reduction signals a more cautious view. Tickerreport.com coverage of DA Davidson’s rating

About Rivian Automotive

Rivian Automotive, Inc designs, develops and manufactures electric vehicles and related technology. Its consumer lineup includes the R1T electric pickup truck and R1S electric sport utility vehicle, while its commercial offerings include electric delivery vans and fleet services.

Founded in 2009 by RJ Scaringe, the company began delivering its R1T and R1S vehicles in 2021. Rivian also develops vehicle software, charging solutions and services intended to support its consumer and commercial customers.

Rivian primarily serves customers in the United States and Canada.