Mizuho Issues Pessimistic Forecast for Rivian Automotive (NASDAQ:RIVN) Stock Price

Rivian Automotive (NASDAQ:RIVNFree Report) had its price target lowered by Mizuho from $11.00 to $10.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the electric vehicle automaker’s stock.

RIVN has been the subject of a number of other reports. Truist Financial upped their target price on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Guggenheim dropped their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Cowen initiated coverage on shares of Rivian Automotive in a research report on Thursday, March 6th. They set a “hold” rating on the stock. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Finally, Barclays lifted their price objective on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.25.

Check Out Our Latest Stock Report on RIVN

Rivian Automotive Price Performance

NASDAQ:RIVN opened at $11.47 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive has a one year low of $8.26 and a one year high of $18.86. The company has a fifty day moving average price of $11.99 and a 200 day moving average price of $12.05. The stock has a market cap of $12.97 billion, a P/E ratio of -2.43 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Analysts anticipate that Rivian Automotive will post -3.2 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now directly owns 853,011 shares of the company’s stock, valued at approximately $9,596,373.75. This trade represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,427 shares of company stock worth $2,237,044. Corporate insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of institutional investors have recently bought and sold shares of RIVN. Tandem Financial LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new position in Rivian Automotive in the fourth quarter valued at about $27,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the third quarter worth about $28,000. Orion Capital Management LLC acquired a new position in shares of Rivian Automotive during the 4th quarter worth about $34,000. Finally, Bear Mountain Capital Inc. increased its stake in shares of Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock valued at $36,000 after acquiring an additional 1,932 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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