Rivian Automotive (NASDAQ:RIVN – Free Report) had its target price lifted by DA Davidson from $12.00 to $13.00 in a research note published on Friday morning, Benzinga reports. DA Davidson currently has a neutral rating on the electric vehicle automaker’s stock.
RIVN has been the subject of several other reports. UBS Group boosted their target price on Rivian Automotive from $10.00 to $17.00 and gave the stock a neutral rating in a research report on Friday. Mizuho decreased their price objective on Rivian Automotive from $12.00 to $11.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price objective on Rivian Automotive from $10.00 to $14.00 and gave the company an underweight rating in a research report on Wednesday, June 26th. Wedbush boosted their price objective on Rivian Automotive from $15.00 to $20.00 and gave the company an outperform rating in a research report on Wednesday, June 26th. Finally, Wells Fargo & Company decreased their price objective on Rivian Automotive from $14.00 to $10.00 and set an equal weight rating for the company in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $19.04.
View Our Latest Report on RIVN
Rivian Automotive Price Performance
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last posted its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. On average, equities analysts anticipate that Rivian Automotive will post -4.93 EPS for the current year.
Insider Transactions at Rivian Automotive
In related news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the sale, the chief executive officer now owns 909,691 shares in the company, valued at approximately $10,234,023.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.
Institutional Investors Weigh In On Rivian Automotive
A number of large investors have recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. acquired a new position in Rivian Automotive in the 4th quarter valued at $26,000. Ancora Advisors LLC acquired a new position in Rivian Automotive in the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC grew its holdings in Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 2,380 shares in the last quarter. Principal Securities Inc. acquired a new position in Rivian Automotive in the 4th quarter valued at $33,000. Finally, Benjamin Edwards Inc. acquired a new position in Rivian Automotive in the 1st quarter valued at $33,000. Institutional investors 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.
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