Mizuho Markets Americas LLC lifted its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report) by 16.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 683,024 shares of the electric vehicle automaker’s stock after purchasing an additional 94,840 shares during the period. Mizuho Markets Americas LLC owned 0.06% of Rivian Automotive worth $10,280,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of RIVN. Norges Bank acquired a new position in Rivian Automotive during the fourth quarter worth approximately $220,323,000. Renaissance Technologies LLC raised its stake in Rivian Automotive by 32.4% in the fourth quarter. Renaissance Technologies LLC now owns 16,397,496 shares of the electric vehicle automaker’s stock valued at $323,195,000 after buying an additional 4,012,386 shares during the period. Capital International Investors lifted its position in shares of Rivian Automotive by 13.2% in the fourth quarter. Capital International Investors now owns 20,769,844 shares of the electric vehicle automaker’s stock valued at $409,374,000 after buying an additional 2,418,717 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Rivian Automotive by 496.6% in the second quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker’s stock valued at $31,490,000 after buying an additional 1,918,852 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Rivian Automotive by 1,353.6% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker’s stock worth $28,281,000 after acquiring an additional 1,916,686 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Rivian Automotive
Here are the key news stories impacting Rivian Automotive this week:
- Positive Sentiment: Rivian remains in focus ahead of its July 30 earnings release, with recent coverage highlighting expectations for higher revenue and earnings versus the prior period. The stock has also shown some recent recovery over the past month, suggesting traders still see a turnaround case. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
- Neutral Sentiment: Longer-term bullish commentary is pointing to Rivian’s improving gross profitability trend and arguing the company has several factors that could support a durable investment case. 3 Big Reasons to Believe in Rivian Stock Long-Term
- Neutral Sentiment: Despite the recent attention, one analysis says Rivian does not currently have the key setup that typically leads to an earnings beat, which keeps expectations guarded heading into the report. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
- Negative Sentiment: Rivian is being pulled lower along with other EV stocks after Tesla reported a profit miss, which has raised fresh questions about demand, margins, and profitability across the sector. Tesla Slides 8% on Earnings Miss Despite Record Deliveries; Rivian, Lucid Slip
- Negative Sentiment: Broader commentary on the U.S. EV industry has been pessimistic, emphasizing shrinking market enthusiasm and the financial strain on young EV makers like Rivian, which can weigh on sentiment ahead of earnings. This Stock Is Crushing Both Lucid and Rivian in 1 Crucial Way
Insiders Place Their Bets
Rivian Automotive Stock Performance
RIVN opened at $16.46 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. The business has a fifty day simple moving average of $16.28 and a 200 day simple moving average of $16.01. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69. The company has a market capitalization of $22.40 billion, a PE ratio of -5.64 and a beta of 1.60.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last posted its earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.48) earnings per share. Research analysts expect that Rivian Automotive, Inc. will post -3.06 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. TD Cowen reissued a “buy” rating and set a $20.00 target price on shares of Rivian Automotive in a report on Wednesday, June 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rivian Automotive in a research report on Monday, June 15th. BNP Paribas Exane upped their price objective on shares of Rivian Automotive from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $22.00 price objective on shares of Rivian Automotive in a research report on Monday, April 6th. Finally, Jefferies Financial Group increased their price objective on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, Rivian Automotive has a consensus rating of “Hold” and an average target price of $18.86.
Read Our Latest Stock Report on Rivian Automotive
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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