Rivian Automotive (NASDAQ:RIVN) Trading Down 1%

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price was down 1% during mid-day trading on Monday . The company traded as low as $13.22 and last traded at $13.36. Approximately 5,036,320 shares traded hands during trading, a decline of 87% from the average daily volume of 40,280,402 shares. The stock had previously closed at $13.50.

Wall Street Analyst Weigh In

RIVN has been the topic of a number of recent research reports. Truist Financial raised their price objective on Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Guggenheim began coverage on Rivian Automotive in a research note on Tuesday, June 25th. They issued a “buy” rating and a $18.00 price target for the company. Mizuho increased their price objective on shares of Rivian Automotive from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. UBS Group decreased their target price on shares of Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group upped their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Rivian Automotive currently has an average rating of “Hold” and an average target price of $18.09.

Rivian Automotive Trading Up 0.1 %

The stock’s 50 day simple moving average is $14.85 and its 200 day simple moving average is $12.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25. The firm has a market cap of $13.63 billion, a PE ratio of -2.32 and a beta of 2.06.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. On average, sell-side analysts forecast that Rivian Automotive, Inc. will post -4.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the transaction, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at $10,234,023.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $10,234,023.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the sale, the chief financial officer now directly owns 392,662 shares in the company, valued at $5,328,423.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 417,497 shares of company stock worth $6,732,150. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RIVN. Sanctuary Advisors LLC purchased a new position in shares of Rivian Automotive in the 2nd quarter valued at approximately $550,000. Cetera Investment Advisers raised its stake in shares of Rivian Automotive by 9.5% during the 2nd quarter. Cetera Investment Advisers now owns 210,381 shares of the electric vehicle automaker’s stock worth $2,823,000 after buying an additional 18,243 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Rivian Automotive by 149.5% during the second quarter. B. Riley Wealth Advisors Inc. now owns 52,117 shares of the electric vehicle automaker’s stock worth $699,000 after purchasing an additional 31,232 shares in the last quarter. Regal Investment Advisors LLC raised its holdings in shares of Rivian Automotive by 7.0% during the second quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle automaker’s stock valued at $262,000 after acquiring an additional 1,281 shares during the last quarter. Finally, Quarry LP acquired a new stake in Rivian Automotive during the 2nd quarter worth $105,000. Hedge funds and other 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.