Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Average Rating of “Moderate Buy” from Brokerages

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) has been given a consensus rating of “Moderate Buy” by the twenty-four ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $19.00.

Several research analysts recently issued reports on RIVN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Rivian Automotive in a research report on Wednesday, May 8th. Morgan Stanley cut their price objective on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Mizuho decreased their target price on shares of Rivian Automotive from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Barclays reduced their price objective on shares of Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $15.00 target price on shares of Rivian Automotive in a research note on Tuesday, April 2nd.

Check Out Our Latest Analysis on RIVN

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.49, for a total value of $820,719.21. Following the transaction, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at $10,452,349.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Rivian Automotive

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ancora Advisors LLC purchased a new position in shares of Rivian Automotive during the third quarter valued at approximately $27,000. Bear Mountain Capital Inc. purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at about $26,000. Principal Securities Inc. bought a new position in shares of Rivian Automotive during the fourth quarter valued at about $33,000. Arlington Trust Co LLC bought a new position in shares of Rivian Automotive during the fourth quarter valued at about $35,000. Finally, Fairman Group LLC purchased a new position in Rivian Automotive during the fourth quarter worth about $36,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

Shares of RIVN opened at $11.01 on Tuesday. The business has a 50-day simple moving average of $10.29 and a two-hundred day simple moving average of $13.59. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $28.06. The stock has a market cap of $10.96 billion, a PE ratio of -1.91 and a beta of 2.01. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.55.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. Analysts anticipate that Rivian Automotive will post -4.96 earnings per share for the current fiscal year.

About Rivian Automotive

(Get Free Report

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.

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Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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