Rivian Automotive (NASDAQ:RIVN) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Rivian Automotive (NASDAQ:RIVN) from a sell rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $19.00 price objective on shares of Rivian Automotive in a research note on Tuesday, July 28th. Weiss Ratings raised Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. UBS Group increased their price target on Rivian Automotive from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Needham & Company LLC reissued a “buy” rating on shares of Rivian Automotive in a research report on Monday, August 10th. Finally, Stifel Nicolaus set a $22.00 price objective on shares of Rivian Automotive in a research note on Monday, August 24th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, Rivian Automotive presently has an average rating of “Hold” and an average target price of $19.00.

Rivian Automotive Stock Down 2.7%

RIVN stock opened at $14.99 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. Rivian Automotive has a 1 year low of $12.39 and a 1 year high of $22.69. The company has a fifty day simple moving average of $16.16 and a 200 day simple moving average of $15.90. The firm has a market cap of $21.70 billion, a PE ratio of -5.81 and a beta of 1.62.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.03. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted ($0.97) earnings per share. The business’s quarterly revenue was up 27.2% on a year-over-year basis. Sell-side analysts anticipate that Rivian Automotive will post -2.98 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In other news, insider Michael John Callahan sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $16.29, for a total transaction of $244,350.00. Following the completion of the transaction, the insider directly owned 1,016,776 shares in the company, valued at $16,563,281.04. The trade was a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the sale, the director directly owned 110,000 shares of the company’s stock, valued at $2,200,000. This represents a 15.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 56,167 shares of company stock worth $963,306 in the last 90 days. 1.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rivian Automotive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Independent Financial Group LLC acquired a new stake in Rivian Automotive in the 1st quarter worth $985,000. Baird Financial Group Inc. increased its holdings in shares of Rivian Automotive by 163.9% during the 2nd quarter. Baird Financial Group Inc. now owns 289,693 shares of the electric vehicle automaker’s stock worth $5,026,000 after purchasing an additional 179,913 shares during the period. Swedbank AB raised its position in shares of Rivian Automotive by 8.6% during the fourth quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker’s stock valued at $18,553,000 after buying an additional 74,322 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Rivian Automotive by 34.9% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 348,800 shares of the electric vehicle automaker’s stock valued at $5,249,000 after buying an additional 90,200 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Rivian Automotive in the fourth quarter valued at about $4,895,000. Institutional investors own 66.25% of the company’s stock.

Key Rivian Automotive News

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

• Positive Sentiment: Rivian continues to attract bullish attention because of its cash position, improving gross profitability and lack of recent shareholder dilution. Investors see potential upside if the company executes successfully on its R2 vehicle program. The 3 Charts That Show Rivian Could Soar
• Positive Sentiment: Rivian rose alongside Lucid during renewed enthusiasm for electric-vehicle and autonomous-driving opportunities after Lucid announced a major European robotaxi agreement. Although the deal was for Lucid, it supported broader sector sentiment and highlighted potential future demand for EV technology. Lucid and Rivian EV Sector News
• Neutral Sentiment: Rivian will participate in Evercore’s ADAS, AV & AI Forum on September 29. The presentation could provide updates on autonomy, artificial intelligence and advanced driver-assistance technology, but no new financial or operational targets were announced. Rivian to Participate in Evercore ADAS, AV and AI Forum
• Negative Sentiment: Michael John Callahan sold 15,000 Rivian shares for approximately $244,350. The sale reduced his holdings by 1.45% and was conducted under a pre-arranged Rule 10b5-1 plan, which makes it less indicative of a discretionary bearish view but still creates short-term selling pressure. Michael John Callahan Sells Rivian Shares
• Negative Sentiment: RIVN decreased even as the broader market gained, indicating that the insider transaction and ongoing concerns about Rivian’s losses may be outweighing its growth prospects in the near term. The company remains unprofitable, with analysts expecting a full-year loss.

About Rivian Automotive

Rivian Automotive, Inc designs, develops and manufactures electric vehicles and related technology. Its consumer vehicle lineup includes the R1T electric pickup truck and R1S electric SUV, which are designed for on-road and off-road use. The company also develops charging solutions, vehicle software and connected services intended to support the ownership and operation of its electric vehicles.

Rivian produces electric commercial vans for delivery and fleet applications, including vehicles developed through its relationship with Amazon.