Truist Financial reissued their hold rating on shares of Rivian Automotive (NASDAQ:RIVN – Free Report) in a research note published on Monday, MarketBeat.com reports. The firm currently has a $11.00 price objective on the electric vehicle automaker’s stock, down from their previous price objective of $26.00.
Other equities research analysts also recently issued reports about the company. Wolfe Research restated a peer perform rating on shares of Rivian Automotive in a report on Thursday, January 4th. Needham & Company LLC lowered their price target on Rivian Automotive from $22.00 to $18.00 and set a buy rating for the company in a report on Thursday, February 22nd. Evercore ISI lowered their price target on Rivian Automotive from $35.00 to $25.00 and set an outperform rating for the company in a report on Thursday, February 22nd. Wells Fargo & Company lowered their price target on Rivian Automotive from $18.00 to $14.00 and set an equal weight rating for the company in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald lowered their price target on Rivian Automotive from $29.00 to $27.00 and set an overweight rating for the company in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $21.18.
Get Our Latest Analysis on Rivian Automotive
Rivian Automotive Trading Up 6.3 %
NASDAQ RIVN opened at $10.70 on Monday. The stock has a 50-day simple moving average of $18.02 and a 200 day simple moving average of $19.09. The company has a market capitalization of $10.25 billion, a PE ratio of -1.86 and a beta of 2.07. The company has a current ratio of 4.61, a quick ratio of 3.64 and a debt-to-equity ratio of 0.26. Rivian Automotive has a 12 month low of $10.05 and a 12 month high of $28.06.
Insider Activity at Rivian Automotive
In other news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.
Institutional Trading of Rivian Automotive
A number of hedge funds have recently made changes to their positions in RIVN. WFA of San Diego LLC acquired a new stake in shares of Rivian Automotive in the second quarter valued at approximately $25,000. Sunbelt Securities Inc. lifted its position in shares of Rivian Automotive by 195.0% in the second quarter. Sunbelt Securities Inc. now owns 1,475 shares of the electric vehicle automaker’s stock valued at $25,000 after buying an additional 975 shares during the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $26,000. Ancora Advisors LLC acquired a new stake in shares of Rivian Automotive in the third quarter valued at approximately $27,000. Finally, MCF Advisors LLC lifted its position in shares of Rivian Automotive by 396.8% in the third quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock valued at $30,000 after buying an additional 1,000 shares during the last quarter. 62.79% of the stock is owned by institutional investors and hedge funds.
About Rivian Automotive
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.
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Source: defenseworld.net
