Rivian Automotive, Inc. (NASDAQ:RIVN – Get Free Report)’s share price was up 3.4% during trading on Thursday . The company traded as high as $15.27 and last traded at $15.20. Approximately 22,457,021 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 29,311,059 shares. The stock had previously closed at $14.70.
Key Headlines Impacting Rivian Automotive
Here are the key news stories impacting Rivian Automotive this week:
- Positive Sentiment: Investors are focusing on Rivian’s growth story, including the upcoming R2 launch and expectations that software-related revenue could become a bigger driver as the company expands beyond its current lineup. Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus
- Positive Sentiment: Rivian’s stock is also benefiting from improved sentiment across EV names and trader interest, which has helped push shares higher despite technical warning signs. Rivian Stock Climbs Friday: What’s Driving The Move?
- Neutral Sentiment: Rivian remains a trending stock, suggesting elevated investor attention and the potential for continued volatility as traders reassess the company’s outlook. Rivian Automotive, Inc. (RIVN) Is a Trending Stock: Facts to Know Before Betting on It
- Negative Sentiment: The biggest drag is a new NHTSA investigation into 114,922 R1S and R1T vehicles over a possible rear toe link defect, raising recall, repair, and reputational risk. US auto safety regulator opens probe into nearly 115,000 Rivian vehicles
- Negative Sentiment: Follow-up reports say the probe stems from rear suspension failures that may have caused vehicles to swerve, which could increase scrutiny and pressure on the stock if the issue widens. Rivian under investigation over rear suspension failures on R1 models
Wall Street Analyst Weigh In
A number of equities analysts recently commented on RIVN shares. Cantor Fitzgerald lifted their price objective on Rivian Automotive from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Benchmark reissued a “buy” rating and issued a $25.00 price target on shares of Rivian Automotive in a research note on Friday, May 1st. DA Davidson boosted their price target on Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Tigress Financial reissued a “buy” rating and issued a $25.00 price target on shares of Rivian Automotive in a research note on Friday, April 10th. Finally, 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. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.57.
Rivian Automotive Stock Performance
The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. The company has a 50 day simple moving average of $15.28 and a 200-day simple moving average of $16.30. The stock has a market capitalization of $20.23 billion, a price-to-earnings ratio of -5.58 and a beta of 1.64.
Insider Buying and Selling
In other news, CFO Claire Mcdonough sold 10,245 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total transaction of $184,410.00. Following the transaction, the chief financial officer directly owned 946,814 shares of the company’s stock, valued at $17,042,652. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the transaction, the chief executive officer directly owned 922,286 shares in the company, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 127,217 shares of company stock worth $1,965,848 over the last ninety days. 2.16% of the stock is owned by insiders.
Institutional Investors Weigh In On Rivian Automotive
Institutional investors have recently bought and sold shares of the stock. Core Wealth Advisors LLC bought a new stake in Rivian Automotive during the fourth quarter worth $27,000. SOA Wealth Advisors LLC. grew its holdings in Rivian Automotive by 894.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after buying an additional 1,395 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Rivian Automotive during the fourth quarter worth $33,000. Glass Jacobson Investment Advisors llc grew its holdings in Rivian Automotive by 96.3% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock worth $34,000 after buying an additional 852 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in Rivian Automotive by 113.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.
Rivian Automotive Company Profile
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.
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