Rivian Automotive (NASDAQ:RIVN) Price Target Raised to $24.00

Rivian Automotive (NASDAQ:RIVN) had its target price lifted by BNP Paribas Exane from $22.00 to $24.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the electric vehicle automaker’s stock.

Other equities research analysts have also recently issued reports about the stock. Leerink Partners reaffirmed an “outperform” rating on shares of Rivian Automotive in a research note on Thursday, March 12th. Jefferies Financial Group increased their price objective on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday. Cantor Fitzgerald restated a “neutral” rating on shares of Rivian Automotive in a research report on Monday, June 15th. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Rivian Automotive in a research note on Friday, May 1st. Finally, Weiss Ratings raised Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.81.

Rivian Automotive Price Performance

Shares of RIVN opened at $17.48 on Wednesday. The stock has a market cap of $21.69 billion, a PE ratio of -5.99 and a beta of 1.60. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. Rivian Automotive has a 1-year low of $11.57 and a 1-year high of $22.69. The firm has a 50-day simple moving average of $15.78 and a two-hundred day simple moving average of $16.24.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.05. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company earned ($0.48) EPS. Rivian Automotive’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts forecast that Rivian Automotive will post -3.07 EPS for the current year.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 34,818 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the completion of the transaction, the chief executive officer owned 922,286 shares of the company’s stock, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director directly owned 110,000 shares in the company, valued at approximately $2,200,000. This represents a 15.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 100,076 shares of company stock worth $1,656,286. Company insiders own 1.48% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. boosted its holdings in shares of Rivian Automotive by 113.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after buying an additional 1,000 shares in the last quarter. Core Wealth Advisors LLC purchased a new position in Rivian Automotive in the fourth quarter valued at about $27,000. SOA Wealth Advisors LLC. raised its stake in shares of Rivian Automotive by 894.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock valued at $31,000 after buying an additional 1,395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Rivian Automotive in the third quarter valued at approximately $31,000. Finally, Zions Bancorporation National Association UT bought a new position in Rivian Automotive in the fourth quarter valued at $33,000. 66.25% of the stock is owned by institutional investors.

Rivian Automotive News Roundup

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

• Positive Sentiment: California’s new tax incentive could increase demand for Rivian’s lower-priced R2, potentially supporting future sales growth. Rivian Is Getting a Boost From California. Could Other States Follow Suit?
• Positive Sentiment: Analysts remain broadly constructive on Rivian’s long-term story, with price-target increases tied to R2 optimism and improving delivery expectations. Rivian Shares Jump as Stifel Raises Price Target on R2 Optimism
• Neutral Sentiment: UBS lifted its price target on Rivian to $17 while keeping a neutral stance, suggesting limited near-term conviction but some valuation support.
• Neutral Sentiment: Rivian’s recent delivery update and higher full-year forecast support the growth narrative, but investors are still waiting for clearer evidence of scaling progress.
• Negative Sentiment: The 75 million-share offering is the biggest overhang because it dilutes existing shareholders and highlights Rivian’s continued need for capital. Rivian’s 75 Million-Share Offering Turns the R2 Growth Story Into a Dilution Test
• Negative Sentiment: Commentary from Jim Cramer and other coverage frames the financing move as another reminder that capital raises remain a risk for the EV sector and for Rivian specifically. Jim Cramer Shows Dislike for the Discounted Capital Raise From Rivian

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.