Stock Traders Buy Large Volume of Rivian Automotive Call Options (NASDAQ:RIVN)

Rivian Automotive, Inc. (NASDAQ:RIVN) was the target of unusually large options trading on Monday. Stock investors purchased 191,958 call options on the company. This is an increase of 40% compared to the typical volume of 137,283 call options.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $12.28, for a total transaction of $88,993.16. Following the completion of the sale, the chief financial officer owned 789,445 shares of the company’s stock, valued at $9,694,384.60. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 17,450 shares of Rivian Automotive stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $14.00, for a total value of $244,300.00. Following the completion of the sale, the chief executive officer owned 1,316,205 shares in the company, valued at $18,426,870. This represents a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,147 shares of company stock valued at $577,593 over the last ninety days. Corporate insiders own 2.16% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors have recently made changes to their positions in the stock. Bleakley Financial Group LLC boosted its holdings in Rivian Automotive by 12.7% in the third quarter. Bleakley Financial Group LLC now owns 21,802 shares of the electric vehicle automaker’s stock valued at $320,000 after purchasing an additional 2,451 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Rivian Automotive by 8.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 12,844 shares of the electric vehicle automaker’s stock valued at $189,000 after purchasing an additional 1,054 shares in the last quarter. Stevens Capital Management LP purchased a new position in shares of Rivian Automotive during the 3rd quarter valued at approximately $1,278,000. Rothschild Investment LLC boosted its stake in shares of Rivian Automotive by 8,161.6% during the 3rd quarter. Rothschild Investment LLC now owns 20,241 shares of the electric vehicle automaker’s stock valued at $297,000 after buying an additional 19,996 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Rivian Automotive by 3.3% in the third quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock worth $1,198,967,000 after buying an additional 2,597,310 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

Rivian Automotive stock traded up $1.27 during trading hours on Monday, reaching $16.50. 64,832,804 shares of the stock were exchanged, compared to its average volume of 37,348,559. Rivian Automotive has a 52-week low of $9.55 and a 52-week high of $17.15. The stock has a market cap of $20.03 billion, a P/E ratio of -5.27 and a beta of 1.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. The firm’s 50 day moving average is $13.90 and its 200 day moving average is $13.70.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.02. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The business’s revenue was up 78.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.08) EPS. Analysts predict that Rivian Automotive will post -3.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RIVN shares. Wall Street Zen upgraded shares of Rivian Automotive from a “sell” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Rivian Automotive in a research note on Monday, August 25th. Guggenheim cut Rivian Automotive from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Cfra Research raised Rivian Automotive to a “moderate sell” rating in a research report on Thursday, October 2nd. Finally, Mizuho reaffirmed an “underperform” rating and set a $10.00 price target (down previously from $14.00) on shares of Rivian Automotive in a research report on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $13.75.

Rivian Automotive Company Profile

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.