Rivian Automotive (NASDAQ:RIVN) Trading Up 1.4%

Rivian Automotive, Inc. (NASDAQ:RIVN) shares traded up 1.4% on Monday . The company traded as high as $13.69 and last traded at $13.41. 5,882,088 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 40,796,023 shares. The stock had previously closed at $13.23.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Rivian Automotive in a report on Thursday. They issued a “peer perform” rating on the stock. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a report on Wednesday, August 7th. Truist Financial increased their price target on shares of Rivian Automotive from $13.00 to $16.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company cut their price target on shares of Rivian Automotive from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. Finally, Mizuho increased their price target on shares of Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and an average price target of $18.14.

Rivian Automotive Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01. The firm has a market capitalization of $13.41 billion, a P/E ratio of -2.32 and a beta of 2.07. The company’s 50-day simple moving average is $14.96 and its two-hundred day simple moving average is $12.20.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. As a group, research analysts expect that Rivian Automotive, Inc. will post -4.82 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors have recently bought and sold shares of the stock. SteelPeak Wealth LLC purchased a new position in shares of Rivian Automotive in the 1st quarter worth $265,000. Berkshire Capital Holdings Inc. grew its stake in shares of Rivian Automotive by 3,511,500.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 351,160 shares of the electric vehicle automaker’s stock worth $8,238,000 after buying an additional 351,150 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Rivian Automotive in the 4th quarter worth $81,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Rivian Automotive in the 4th quarter worth $6,106,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Rivian Automotive by 9.9% in the 4th quarter. Allianz Asset Management GmbH now owns 3,403,461 shares of the electric vehicle automaker’s stock worth $79,845,000 after buying an additional 306,551 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.