Rivian Automotive (NASDAQ:RIVN) Stock Price Down 4.5% – Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN) fell 4.5% during mid-day trading on Monday . The stock traded as low as $15.71 and last traded at $15.75. 24,229,797 shares changed hands during trading, a decline of 58% from the average session volume of 57,862,156 shares. The stock had previously closed at $16.49.

Analyst Upgrades and Downgrades

RIVN has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 target price on shares of Rivian Automotive in a report on Monday. Barclays dropped their price objective on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered their target price on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Finally, Canaccord Genuity Group reduced their price objective on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.48.

Rivian Automotive Stock Down 4.9 %

The firm has a fifty day moving average price of $12.37 and a 200 day moving average price of $13.03. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The company has a market cap of $14.50 billion, a P/E ratio of -2.54 and a beta of 2.05.

Insiders Place Their Bets

In other news, 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 value of $937,507.50. Following the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,429 shares of company stock valued at $4,467,450. Insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

Institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive in the 3rd quarter valued at approximately $28,000. GHP Investment Advisors Inc. increased its stake in Rivian Automotive by 63.2% in the third 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. American Capital Advisory LLC raised its holdings in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Rivian Automotive in the 3rd quarter valued at $44,000. 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.