Brokerages Set Rivian Automotive, Inc. (NASDAQ:RIVN) Target Price at $15.74

Rivian Automotive, Inc. (NASDAQ:RIVN) has received a consensus rating of “Hold” from the twenty-five brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $15.48.

A number of equities research analysts have recently weighed in on RIVN shares. JPMorgan Chase & Co. dropped their price target on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 22nd. Barclays cut their price target on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler cut their target price on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Needham & Company LLC dropped their price target on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

Rivian Automotive Trading Down 4.7 %

Shares of NASDAQ RIVN opened at $15.72 on Friday. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $19.76. The business has a fifty day moving average price of $12.28 and a 200 day moving average price of $13.00. The stock has a market capitalization of $16.04 billion, a P/E ratio of -2.81 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were 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 owns 863,361 shares in the company, valued at approximately $9,712,811.25. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 256,000 shares of company stock valued at $3,312,443 in the last 90 days. Company insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors have recently modified their holdings of RIVN. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive during the 3rd quarter worth $28,000. GHP Investment Advisors Inc. grew its holdings in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 1,002 shares during the last quarter. American Capital Advisory LLC increased its position in Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Hantz Financial Services Inc. raised its stake in Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 2,900 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Rivian Automotive during the 2nd quarter worth approximately $37,000. 66.25% of the stock is owned by institutional investors and hedge funds.

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.