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Rivian Automotive (NASDAQ:RIVN) Earns Hold Rating from Truist Financial

Written by Amanda

Rivian Automotive (NASDAQ:RIVNGet Free Report)‘s stock had its “hold” rating reaffirmed by equities researchers at Truist Financial in a research note issued to investors on Monday, MarketBeat reports. They currently have a $11.00 price objective on the electric vehicle automaker’s stock, down from their prior price objective of $26.00. Truist Financial’s target price would indicate a potential upside of 6.08% from the company’s current price.

A number of other brokerages have also recently weighed in on RIVN. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $19.00 target price (down previously from $29.00) on shares of Rivian Automotive in a report on Wednesday, January 17th. Robert W. Baird reduced their target price on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday. Needham & Company LLC reduced their target price on Rivian Automotive from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut Rivian Automotive from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $20.00 to $11.00 in a research note on Thursday. Finally, Piper Sandler reduced their price objective on Rivian Automotive from $21.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.18.

Read Our Latest Research Report on Rivian Automotive

Rivian Automotive Trading Up 3.0 %

Shares of NASDAQ:RIVN traded up $0.30 during midday trading on Monday, reaching $10.37. The company’s stock had a trading volume of 12,368,414 shares, compared to its average volume of 38,479,008. Rivian Automotive has a 1 year low of $10.05 and a 1 year high of $28.06. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of -1.81 and a beta of 2.07. The company has a quick ratio of 3.64, a current ratio of 4.61 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $18.02 and a 200 day moving average price of $19.09.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the sale, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors have recently made changes to their positions in RIVN. CenterBook Partners LP acquired a new stake in Rivian Automotive in the third quarter worth approximately $4,473,000. BlackRock Inc. raised its stake in Rivian Automotive by 9.7% during the 2nd quarter. BlackRock Inc. now owns 55,827,991 shares of the electric vehicle automaker’s stock valued at $930,094,000 after purchasing an additional 4,924,020 shares during the period. Atria Wealth Solutions Inc. raised its stake in Rivian Automotive by 448.0% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 229,347 shares of the electric vehicle automaker’s stock valued at $5,569,000 after purchasing an additional 187,495 shares during the period. Aigen Investment Management LP acquired a new position in shares of Rivian Automotive in the third quarter worth $1,806,000. Finally, Forsta AP Fonden acquired a new position in shares of Rivian Automotive in the third quarter worth $3,054,000. 62.79% of the stock is owned by institutional investors.

About Rivian Automotive

(Get Free Report)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.

See Also

Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

Before you consider Rivian Automotive, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rivian Automotive wasn’t on the list.

While Rivian Automotive currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

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Source: marketbeat.com

Rivian Automotive (NASDAQ:RIVNGet Free Report)‘s stock had its “hold” rating reaffirmed by equities researchers at Truist Financial in a research note issued to investors on Monday, MarketBeat reports. They currently have a $11.00 price objective on the electric vehicle automaker’s stock, down from their prior price objective of $26.00. Truist Financial’s target price would indicate a potential upside of 6.08% from the company’s current price.

A number of other brokerages have also recently weighed in on RIVN. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $19.00 target price (down previously from $29.00) on shares of Rivian Automotive in a report on Wednesday, January 17th. Robert W. Baird reduced their target price on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday. Needham & Company LLC reduced their target price on Rivian Automotive from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut Rivian Automotive from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $20.00 to $11.00 in a research note on Thursday. Finally, Piper Sandler reduced their price objective on Rivian Automotive from $21.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.18.

Read Our Latest Research Report on Rivian Automotive

Rivian Automotive Trading Up 3.0 %

Shares of NASDAQ:RIVN traded up $0.30 during midday trading on Monday, reaching $10.37. The company’s stock had a trading volume of 12,368,414 shares, compared to its average volume of 38,479,008. Rivian Automotive has a 1 year low of $10.05 and a 1 year high of $28.06. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of -1.81 and a beta of 2.07. The company has a quick ratio of 3.64, a current ratio of 4.61 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $18.02 and a 200 day moving average price of $19.09.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the sale, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors have recently made changes to their positions in RIVN. CenterBook Partners LP acquired a new stake in Rivian Automotive in the third quarter worth approximately $4,473,000. BlackRock Inc. raised its stake in Rivian Automotive by 9.7% during the 2nd quarter. BlackRock Inc. now owns 55,827,991 shares of the electric vehicle automaker’s stock valued at $930,094,000 after purchasing an additional 4,924,020 shares during the period. Atria Wealth Solutions Inc. raised its stake in Rivian Automotive by 448.0% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 229,347 shares of the electric vehicle automaker’s stock valued at $5,569,000 after purchasing an additional 187,495 shares during the period. Aigen Investment Management LP acquired a new position in shares of Rivian Automotive in the third quarter worth $1,806,000. Finally, Forsta AP Fonden acquired a new position in shares of Rivian Automotive in the third quarter worth $3,054,000. 62.79% of the stock is owned by institutional investors.

About Rivian Automotive

(Get Free Report)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.

See Also

Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

Before you consider Rivian Automotive, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rivian Automotive wasn’t on the list.

While Rivian Automotive currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report

Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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