Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $17.18 Average Price Target from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has received an average recommendation of “Hold” from the twenty-three research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $17.09.

A number of research analysts have recently weighed in on RIVN shares. Mizuho increased their price target on Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $19.00 price target on shares of Rivian Automotive in a research report on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $21.00 price target on shares of Rivian Automotive in a research report on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 price target on shares of Rivian Automotive in a research report on Tuesday, September 10th.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total transaction of $969,996.12. Following the transaction, the chief executive officer now owns 886,526 shares in the company, valued at approximately $10,319,162.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,876 shares of company stock valued at $2,153,551 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently modified their holdings of RIVN. PNC Financial Services Group Inc. increased its holdings in shares of Rivian Automotive by 20.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 36,575 shares of the electric vehicle automaker’s stock valued at $858,000 after purchasing an additional 6,295 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Rivian Automotive in the first quarter valued at $574,000. Strategic Planning Group LLC acquired a new position in shares of Rivian Automotive in the first quarter valued at $867,000. Austin Private Wealth LLC increased its holdings in shares of Rivian Automotive by 64.7% in the first quarter. Austin Private Wealth LLC now owns 25,787 shares of the electric vehicle automaker’s stock valued at $272,000 after purchasing an additional 10,128 shares during the last quarter. Finally, RFG Holdings Inc. increased its holdings in shares of Rivian Automotive by 74.7% in the first quarter. RFG Holdings Inc. now owns 17,914 shares of the electric vehicle automaker’s stock valued at $196,000 after purchasing an additional 7,659 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $10.16 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01. The firm has a market cap of $10.11 billion, a P/E ratio of -1.76 and a beta of 2.03. The firm has a 50 day simple moving average of $12.17 and a 200 day simple moving average of $12.25. Rivian Automotive has a fifty-two week low of $8.26 and a fifty-two week high of $24.61.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. Sell-side analysts predict that Rivian Automotive will post -4.88 earnings per share for the current fiscal year.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.