Cantor Fitzgerald Reiterates “Overweight” Rating for Rivian Automotive (NASDAQ:RIVN)

Cantor Fitzgerald restated their overweight rating on shares of Rivian Automotive (NASDAQ:RIVN) in a research note released on Monday,Benzinga reports. Cantor Fitzgerald currently has a $13.00 price target on the electric vehicle automaker’s stock.

Several other research firms have also recently issued reports on RIVN. Barclays decreased their price target on shares of 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. Royal Bank of Canada decreased their target price on shares of 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. The Goldman Sachs Group boosted their price target on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Needham & Company LLC decreased their price objective on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Truist Financial reiterated a “hold” rating and issued a $12.00 target price on shares of Rivian Automotive in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Rivian Automotive has an average rating of “Hold” and an average price target of $15.48.

Rivian Automotive Stock Down 4.9 %

RIVN opened at $14.21 on Monday. The firm has a market cap of $14.50 billion, a P/E ratio of -2.54 and a beta of 2.05. The business’s fifty day simple moving average is $12.37 and its 200 day simple moving average is $13.03. Rivian Automotive has a 52 week low of $8.26 and a 52 week high of $19.76. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’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 value of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 327,429 shares of company stock worth $4,467,450. Corporate insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors have recently added to or reduced their stakes in RIVN. Certuity LLC increased its position in shares of Rivian Automotive by 8.1% during the second quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock worth $145,000 after acquiring an additional 815 shares during the last quarter. John G Ullman & Associates Inc. boosted its holdings in Rivian Automotive by 9.1% in the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock valued at $135,000 after purchasing an additional 1,000 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in 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. Intech Investment Management LLC increased its holdings in Rivian Automotive by 1.4% during the 2nd quarter. Intech Investment Management LLC now owns 76,967 shares of the electric vehicle automaker’s stock worth $1,033,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Tradition Wealth Management LLC raised its position in shares of Rivian Automotive by 11.9% in the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock valued at $132,000 after purchasing an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 66.25% 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.