Rivian Automotive (NASDAQ:RIVN) Stock Price Up 3.6% – What’s Next?

Rivian Automotive, Inc. (NASDAQ:RIVN) was up 3.6% on Tuesday . The stock traded as high as $14.25 and last traded at $14.25. Approximately 9,006,487 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 39,844,801 shares. The stock had previously closed at $13.75.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RIVN shares. Barclays decreased their price target on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. The Goldman Sachs Group raised their price target on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Robert W. Baird reiterated a “neutral” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Stifel Nicolaus lowered their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, Royal Bank of Canada cut their price target on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.74.

Rivian Automotive Price Performance

The company’s 50-day moving average price is $11.59 and its two-hundred day moving average price is $12.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The company has a market capitalization of $14.35 billion, a P/E ratio of -2.51 and a beta of 2.12.

Insiders Place Their Bets

In related news, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. The trade was a 8.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Claire Mcdonough sold 18,501 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the transaction, the chief financial officer now directly owns 351,900 shares in the company, valued at $5,278,500. The trade was a 4.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,571 shares of company stock worth $2,321,008. 2.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive in the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. raised its stake in shares of Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 1,002 shares during the last quarter. American Capital Advisory LLC lifted its holdings in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after purchasing an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after buying an additional 2,900 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Rivian Automotive during the second quarter worth $37,000. 66.25% of the stock is owned by institutional investors.

About Rivian Automotive

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.