Investment Analysts’ Recent Ratings Changes for Rivian Automotive (RIVN)

A number of research firms have changed their ratings and price targets for Rivian Automotive (NASDAQ: RIVN):

• 4/16/2024 – Rivian Automotive was upgraded by analysts at UBS Group AG from a “sell” rating to a “neutral” rating. They now have a $9.00 price target on the stock.
• 4/12/2024 – Rivian Automotive had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $11.00 price target on the stock.
• 4/4/2024 – Rivian Automotive had its price target lowered by analysts at Morgan Stanley from $14.00 to $13.00. They now have an “overweight” rating on the stock.
• 4/3/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $23.00 price target on the stock.
• 4/3/2024 – Rivian Automotive had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $11.00 price target on the stock.
• 4/2/2024 – Rivian Automotive had its “hold” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $15.00 price target on the stock.
• 3/25/2024 – Rivian Automotive had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $12.00 price target on the stock.
• 3/15/2024 – Rivian Automotive was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $21.00 price target on the stock, up previously from $15.00.
• 3/7/2024 – Rivian Automotive is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $16.00 price target on the stock.
• 2/27/2024 – Rivian Automotive had its price target lowered by analysts at Morgan Stanley from $24.00 to $14.00. They now have an “overweight” rating on the stock.
• 2/26/2024 – Rivian Automotive had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $11.00 price target on the stock, down previously from $26.00.
• 2/26/2024 – Rivian Automotive had its price target lowered by analysts at Barclays PLC from $16.00 to $12.00. They now have an “equal weight” rating on the stock.
• 2/26/2024 – Rivian Automotive had its price target lowered by analysts at Stifel Nicolaus from $23.00 to $18.00. They now have a “buy” rating on the stock.
• 2/23/2024 – Rivian Automotive had its “sell” rating reaffirmed by analysts at UBS Group AG. They now have a $8.00 price target on the stock, down previously from $24.00.
• 2/22/2024 – Rivian Automotive was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating. They now have a $11.00 price target on the stock, down previously from $20.00.
• 2/22/2024 – Rivian Automotive had its price target lowered by analysts at Evercore ISI from $35.00 to $25.00. They now have an “outperform” rating on the stock.
• 2/22/2024 – Rivian Automotive had its price target lowered by analysts at Robert W. Baird from $30.00 to $23.00. They now have an “outperform” rating on the stock.
• 2/22/2024 – Rivian Automotive had its price target lowered by analysts at Piper Sandler from $21.00 to $15.00. They now have a “neutral” rating on the stock.
• 2/22/2024 – Rivian Automotive had its price target lowered by analysts at DA Davidson from $19.00 to $17.00. They now have a “neutral” rating on the stock.
• 2/22/2024 – Rivian Automotive had its price target lowered by analysts at Wells Fargo & Company from $18.00 to $14.00. They now have an “equal weight” rating on the stock.
• 2/22/2024 – Rivian Automotive had its price target lowered by analysts at Mizuho from $30.00 to $24.00. They now have a “buy” rating on the stock.
• 2/22/2024 – Rivian Automotive had its price target lowered by analysts at Bank of America Co. from $40.00 to $25.00. They now have a “buy” rating on the stock.
• 2/22/2024 – Rivian Automotive had its price target lowered by analysts at Needham & Company LLC from $22.00 to $18.00. They now have a “buy” rating on the stock.

Rivian Automotive Price Performance

RIVN stock traded up $0.24 during midday trading on Wednesday, hitting $8.95. 20,416,066 shares of the stock were exchanged, compared to its average volume of 43,300,430. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $28.06. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of -1.56 and a beta of 1.88. The stock’s 50-day moving average price is $11.98 and its 200-day moving average price is $16.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.67) by $0.09. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. Research analysts predict that Rivian Automotive, Inc. will post -4.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Kjell Gruner sold 19,935 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the sale, the chief financial officer now owns 155,749 shares in the company, valued at approximately $2,523,133.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,306 shares of company stock valued at $717,274. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

A number of hedge funds have recently bought and sold shares of RIVN. Eaton Vance Management raised its position in shares of Rivian Automotive by 6.8% during the first quarter. Eaton Vance Management now owns 7,843 shares of the electric vehicle automaker’s stock valued at $394,000 after buying an additional 497 shares during the last quarter. Gould Capital LLC increased its stake in Rivian Automotive by 32.6% during the second quarter. Gould Capital LLC now owns 2,035 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 500 shares during the period. D.A. Davidson & CO. raised its holdings in Rivian Automotive by 9.1% in the 1st quarter. D.A. Davidson & CO. now owns 6,176 shares of the electric vehicle automaker’s stock valued at $310,000 after acquiring an additional 515 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Rivian Automotive by 1.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 35,904 shares of the electric vehicle automaker’s stock worth $662,000 after acquiring an additional 577 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Rivian Automotive by 1,329.5% during the 1st quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker’s stock worth $32,000 after purchasing an additional 585 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

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.