Rivian Automotive (RIVN) Scheduled to Post Quarterly Earnings on Tuesday

Rivian Automotive (NASDAQ:RIVN) will release its earnings data after the market closes on Tuesday, August 6th. Analysts expect Rivian Automotive to post earnings of ($1.39) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.38) by ($0.03). Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, analysts expect Rivian Automotive to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $14.72 on Monday. Rivian Automotive has a one year low of $8.26 and a one year high of $27.01. The business has a fifty day moving average price of $13.82 and a 200-day moving average price of $12.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.71 and a quick ratio of 3.55. The firm has a market capitalization of $14.65 billion, a P/E ratio of -2.55 and a beta of 2.09.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of Rivian Automotive from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 16th. Needham & Company LLC upped their price objective on shares of Rivian Automotive from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler reiterated an “overweight” rating and issued a $21.00 price target on shares of Rivian Automotive in a report on Wednesday, June 26th. Guggenheim initiated coverage on Rivian Automotive in a research report on Tuesday, June 25th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Truist Financial upped their target price on shares of Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.92.

Insider Activity

In other news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at $10,234,023.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at $10,234,023.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 200,000 shares of Rivian Automotive stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $16,374,438. The disclosure for this sale can be found here. Insiders have sold a total of 485,716 shares of company stock worth $7,509,309 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

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.