Rivian Automotive (NASDAQ:RIVN – Get Rating) had its target price dropped by investment analysts at Truist Financial from $65.00 to $50.00 in a research note issued on Wednesday, The Fly reports.
RIVN has been the subject of a number of other research reports. Needham & Company LLC started coverage on shares of Rivian Automotive in a research note on Wednesday, September 14th. They issued a “hold” rating for the company. Robert W. Baird cut their target price on shares of Rivian Automotive from $51.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, December 13th. Canaccord Genuity Group cut their target price on shares of Rivian Automotive from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, November 10th. Cantor Fitzgerald started coverage on shares of Rivian Automotive in a research note on Tuesday, December 20th. They issued an “overweight” rating and a $22.00 target price for the company. Finally, DA Davidson cut their target price on shares of Rivian Automotive from $27.00 to $23.00 and set an “underperform” rating for the company in a research note on Thursday, November 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of 44.43.
Rivian Automotive Stock Down 0.2 %
NASDAQ RIVN opened at 17.31 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.39 and a current ratio of 6.84. The firm has a 50-day simple moving average of 27.68 and a 200 day simple moving average of 31.15. Rivian Automotive has a twelve month low of 17.08 and a twelve month high of 99.21. The stock has a market cap of $15.94 billion, a PE ratio of -1.67 and a beta of 1.83.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The electric vehicle automaker reported -1.57 EPS for the quarter, topping analysts’ consensus estimates of -1.78 by 0.21. The firm had revenue of 536.00 million during the quarter, compared to analysts’ expectations of 513.89 million. Rivian Automotive had a negative net margin of 714.01% and a negative return on equity of 32.42%. On average, research analysts forecast that Rivian Automotive will post -7.46 EPS for the current year.
Insiders Place Their Bets
In other Rivian Automotive news, CFO Claire Mcdonough sold 14,235 shares of Rivian Automotive stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total transaction of 497,086.20. Following the completion of the sale, the chief financial officer now owns 81,151 shares of the company’s stock, valued at approximately 2,833,792.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Jeff Baker sold 1,689 shares of Rivian Automotive stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.38, for a total transaction of 58,067.82. Following the transaction, the chief accounting officer now directly owns 89,331 shares of the company’s stock, valued at 3,071,199.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Claire Mcdonough sold 14,235 shares of Rivian Automotive stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of 34.92, for a total transaction of 497,086.20. Following the transaction, the chief financial officer now directly owns 81,151 shares in the company, valued at 2,833,792.92. The disclosure for this sale can be found here. Company insiders own 2.34% of the company’s stock.
Hedge Funds Weigh In On Rivian Automotive
Hedge funds and other institutional investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. lifted its position in Rivian Automotive by 1,329.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker’s stock valued at $32,000 after acquiring an additional 585 shares in the last quarter. Gould Capital LLC lifted its position in Rivian Automotive by 175.4% in the 3rd quarter. Gould Capital LLC now owns 785 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 500 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its position in Rivian Automotive by 114.5% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 873 shares of the electric vehicle automaker’s stock valued at $44,000 after acquiring an additional 466 shares in the last quarter. Concord Wealth Partners bought a new stake in Rivian Automotive in the 2nd quarter valued at $25,000. Finally, Quadrant Capital Group LLC lifted its position in Rivian Automotive by 97.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 979 shares of the electric vehicle automaker’s stock worth $32,000 after buying an additional 484 shares in the last quarter. 67.97% of the stock is owned by institutional investors.
Rivian Automotive Company Profile
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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 “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: news.google.com
