Rivian Automotive (NASDAQ:RIVN) Trading 2.9% Higher

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price traded up 2.9% during trading on Thursday . The company traded as high as $9.63 and last traded at $9.48. 6,997,135 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 41,360,410 shares. The stock had previously closed at $9.21.

Analyst Ratings Changes

Several research firms recently commented on RIVN. Bank of America dropped their price objective on Rivian Automotive from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Robert W. Baird decreased their price objective on shares of Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Wells Fargo & Company dropped their target price on shares of Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. UBS Group raised shares of Rivian Automotive from a “sell” rating to a “neutral” rating and set a $9.00 target price for the company in a research report on Tuesday, April 16th. Finally, Evercore ISI lowered their price target on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Rivian Automotive Stock Up 2.4 %

The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $10.40 and a two-hundred day moving average price of $15.19.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping the consensus estimate of ($1.67) by $0.09. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. Analysts anticipate that Rivian Automotive, Inc. will post -4.77 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the sale, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Kjell Gruner sold 19,935 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the transaction, the insider now owns 407,787 shares in the company, valued at $5,223,751.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the transaction, the chief accounting officer now directly owns 52,415 shares in the company, valued at approximately $690,829.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,306 shares of company stock worth $717,274. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Large investors have recently bought and sold shares of the business. Bear Mountain Capital Inc. purchased a new stake in shares of Rivian Automotive during the 4th quarter worth $26,000. Ancora Advisors LLC bought a new position in shares of Rivian Automotive during the 3rd quarter worth approximately $27,000. First Horizon Advisors Inc. lifted its position in Rivian Automotive by 1,537.0% during the third quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock valued at $32,000 after acquiring an additional 1,245 shares during the last quarter. Principal Securities Inc. purchased a new position in Rivian Automotive in the fourth quarter worth $33,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of Rivian Automotive during the first quarter worth $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.