Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been given an average recommendation of “Hold” by the twenty-five research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $14.87.

A number of equities research analysts have recently commented on the stock. Bank of America downgraded shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $13.00 to $10.00 in a report on Monday, February 24th. Stifel Nicolaus lowered their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. Barclays lifted their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Guggenheim lowered their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Rivian Automotive Stock Performance

Shares of RIVN opened at $11.84 on Friday. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock has a market cap of $12.08 billion, a P/E ratio of -2.51 and a beta of 2.04. The company has a 50-day moving average of $13.32 and a two-hundred day moving average of $12.44. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. As a group, research analysts predict that Rivian Automotive will post -3.2 EPS 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 Rivian Automotive stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,357 shares of company stock valued at $3,988,140 over the last ninety days. Corporate insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Gould Capital LLC lifted its position in shares of Rivian Automotive by 87.6% during the fourth quarter. Gould Capital LLC now owns 7,025 shares of the electric vehicle automaker’s stock worth $93,000 after purchasing an additional 3,280 shares in the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Rivian Automotive during the fourth quarter worth $206,000. Neo Ivy Capital Management lifted its position in shares of Rivian Automotive by 23.8% during the fourth quarter. Neo Ivy Capital Management now owns 157,704 shares of the electric vehicle automaker’s stock worth $2,097,000 after purchasing an additional 30,300 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Rivian Automotive during the fourth quarter worth $34,000. Finally, Elequin Capital LP acquired a new stake in Rivian Automotive in the fourth quarter valued at $49,000. 66.25% of the stock is owned by institutional investors and hedge funds.

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.