Rivian Automotive, Inc. (NASDAQ:RIVN) Given Average Rating of “Hold” by Analysts

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have earned a consensus recommendation of “Hold” from the twenty-eight research firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $15.7304.

A number of research firms have commented on RIVN. UBS Group boosted their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Baird R W raised shares of Rivian Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 18th. Tigress Financial raised their price objective on shares of Rivian Automotive from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Evercore ISI reiterated an “outperform” rating on shares of Rivian Automotive in a report on Monday, December 15th. Finally, Zacks Research raised shares of Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th.

Insider Activity

In other news, Director Peter Krawiec sold 3,655 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $19.45, for a total transaction of $71,089.75. Following the completion of the sale, the director directly owned 29,122 shares of the company’s stock, valued at $566,422.90. This trade represents a 11.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 8,039 shares of Rivian Automotive stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $18.00, for a total value of $144,702.00. Following the completion of the transaction, the chief financial officer owned 730,017 shares in the company, valued at $13,140,306. The trade was a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 120,154 shares of company stock worth $2,017,909. Insiders own 2.16% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

Institutional investors have recently bought and sold shares of the stock. Prospera Financial Services Inc lifted its position in shares of Rivian Automotive by 5.2% in the 3rd quarter. Prospera Financial Services Inc now owns 15,803 shares of the electric vehicle automaker’s stock valued at $232,000 after acquiring an additional 775 shares in the last quarter. Siemens Fonds Invest GmbH raised its stake in Rivian Automotive by 7.7% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 10,874 shares of the electric vehicle automaker’s stock valued at $160,000 after purchasing an additional 780 shares during the period. Equitable Holdings Inc. raised its stake in Rivian Automotive by 5.8% during the 3rd quarter. Equitable Holdings Inc. now owns 14,699 shares of the electric vehicle automaker’s stock valued at $216,000 after purchasing an additional 803 shares during the period. TD Asset Management Inc lifted its holdings in shares of Rivian Automotive by 1.2% in the second quarter. TD Asset Management Inc now owns 75,841 shares of the electric vehicle automaker’s stock valued at $1,042,000 after purchasing an additional 870 shares in the last quarter. Finally, First National Trust Co lifted its holdings in shares of Rivian Automotive by 5.6% in the third quarter. First National Trust Co now owns 16,900 shares of the electric vehicle automaker’s stock valued at $248,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Down 1.1%

Shares of Rivian Automotive stock opened at $20.90 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23. Rivian Automotive has a 1-year low of $10.36 and a 1-year high of $22.69. The business’s fifty day moving average price is $16.40 and its two-hundred day moving average price is $14.47. The company has a market capitalization of $25.62 billion, a P/E ratio of -6.72 and a beta of 1.79.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.06. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Rivian Automotive had a negative return on equity of 57.33% and a negative net margin of 61.34%.The company’s revenue for the quarter was up 78.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.08) earnings per share. As a group, research analysts forecast that Rivian Automotive will post -3.2 EPS for the current year.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.