Rivian Automotive (NASDAQ:RIVN) Price Target Raised to $18.00 at Stifel Nicolaus

Rivian Automotive (NASDAQ:RIVN) had its price target upped by Stifel Nicolaus from $16.00 to $18.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the electric vehicle automaker’s stock.

Several other equities research analysts have also weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $15.00 price objective on shares of Rivian Automotive in a report on Wednesday, May 7th. Wedbush decreased their price objective on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Mizuho lifted their price objective on Rivian Automotive from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. TD Cowen began coverage on Rivian Automotive in a report on Friday, March 7th. They set a “hold” rating and a $12.70 target price for the company. Finally, Bank of America lowered Rivian Automotive from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $13.00 to $10.00 in a report on Monday, February 24th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.16.

Rivian Automotive Trading Down 0.3%

Shares of RIVN opened at $14.82 on Monday. The business has a 50-day moving average of $12.20 and a 200 day moving average of $12.43. Rivian Automotive has a fifty-two week low of $9.50 and a fifty-two week high of $18.86. The firm has a market cap of $16.76 billion, a P/E ratio of -3.14 and a beta of 1.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, research analysts forecast that Rivian Automotive will post -3.2 EPS for the current year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the completion of the sale, the chief executive officer now owns 853,011 shares of the company’s stock, valued at $10,082,590.02. The trade was a 7.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,427 shares of company stock valued at $2,154,905. 2.51% of the stock is owned by corporate insiders.

Institutional Trading of Rivian Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tandem Financial LLC bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $25,000. PFS Partners LLC lifted its position in Rivian Automotive by 1,882.0% in the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,882 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive in the third quarter valued at approximately $28,000. Finally, Orion Capital Management LLC bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $34,000. Institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

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.