Rivian Automotive (NASDAQ:RIVN) Director Jay Flatley Buys 1,250 Shares

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) Director Jay Flatley acquired 1,250 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $8.84 per share, with a total value of $11,050.00. Following the acquisition, the director directly owned 162,070 shares of the company’s stock, valued at $1,432,698.80. This represents a 0.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rivian Automotive Trading Up 1.8%

Rivian Automotive stock traded up $0.27 during trading hours on Thursday, reaching $15.19. The company had a trading volume of 27,648,360 shares, compared to its average volume of 30,787,961. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.33 and a quick ratio of 1.89. Rivian Automotive, Inc. has a 12-month low of $10.36 and a 12-month high of $22.69. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of -4.95 and a beta of 1.75. The company has a 50-day moving average price of $16.73 and a 200 day moving average price of $15.63.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last released its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.02. Rivian Automotive had a negative net margin of 67.68% and a negative return on equity of 65.05%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned ($0.70) EPS. The company’s revenue was down 25.8% compared to the same quarter last year. Equities analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Key Headlines Impacting Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, February 13th. Stifel Nicolaus upped their target price on Rivian Automotive from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Wells Fargo & Company boosted their target price on Rivian Automotive from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft raised shares of Rivian Automotive from a “hold” rating to a “buy” rating and boosted their price target for the company from $16.00 to $23.00 in a research note on Friday, February 13th. Finally, Bank of America began coverage on shares of Rivian Automotive in a report on Wednesday. They issued an “underperform” rating and a $14.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.86.

Get Our Latest Stock Report on RIVN

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently bought and sold shares of RIVN. Core Wealth Advisors LLC acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $27,000. SOA Wealth Advisors LLC. grew its holdings in shares of Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after acquiring an additional 1,395 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $33,000. Glass Jacobson Investment Advisors llc boosted its position in Rivian Automotive by 96.3% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 852 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Rivian Automotive by 315.6% during the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after acquiring an additional 1,357 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Rivian Automotive (NASDAQ:RIVN)

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