Rivian Automotive (NASDAQ:RIVN) Shares Down 1.9% – Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN) fell 1.9% on Monday . The stock traded as low as $14.24 and last traded at $14.49. 19,393,420 shares traded hands during trading, a decline of 37% from the average session volume of 30,755,006 shares. The stock had previously closed at $14.77.

Analyst Ratings Changes

RIVN has been the topic of a number of research reports. Evercore restated an “outperform” rating on shares of Rivian Automotive in a research note on Monday, December 15th. UBS Group raised Rivian Automotive from a “sell” rating to a “neutral” rating and increased their target price for the company from $15.00 to $16.00 in a report on Friday, February 13th. Benchmark reissued a “buy” rating on shares of Rivian Automotive in a research report on Thursday, March 12th. Wells Fargo & Company boosted their price target on Rivian Automotive from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Finally, The Goldman Sachs Group upped their price target on shares of Rivian Automotive from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and a consensus target price of $18.05.

Rivian Automotive Price Performance

The firm has a 50 day moving average price of $15.46 and a 200 day moving average price of $15.91. The stock has a market capitalization of $17.98 billion, a PE ratio of -4.72 and a beta of 1.74. The company has a current ratio of 2.33, a quick ratio of 1.89 and a debt-to-equity ratio of 0.97.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.14. Rivian Automotive had a negative return on equity of 65.05% and a negative net margin of 67.68%.The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned ($0.70) earnings per share. Rivian Automotive’s quarterly revenue was down 25.8% compared to the same quarter last year. Research analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 27,133 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $16.80, for a total value of $455,834.40. Following the completion of the sale, the chief financial officer directly owned 680,836 shares of the company’s stock, valued at approximately $11,438,044.80. This represents a 3.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 34,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $586,320.00. Following the sale, the chief executive officer owned 1,044,731 shares in the company, valued at approximately $17,551,480.80. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 131,833 shares of company stock worth $2,196,995. Insiders own 2.16% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of hedge funds and other institutional investors have recently modified their holdings of RIVN. Rockefeller Capital Management L.P. raised its position in shares of Rivian Automotive by 6.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 55,391 shares of the electric vehicle automaker’s stock valued at $1,092,000 after purchasing an additional 3,119 shares during the period. Osbon Capital Management LLC bought a new position in Rivian Automotive in the 4th quarter worth $57,000. Corient Private Wealth LLC boosted its holdings in Rivian Automotive by 41.6% in the 4th quarter. Corient Private Wealth LLC now owns 94,501 shares of the electric vehicle automaker’s stock worth $1,863,000 after buying an additional 27,785 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Rivian Automotive by 2,212.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 62,168 shares of the electric vehicle automaker’s stock worth $1,225,000 after buying an additional 59,480 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL increased its stake in Rivian Automotive by 8,210.2% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 10,554 shares of the electric vehicle automaker’s stock worth $208,000 after buying an additional 10,427 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

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.