Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) have been assigned an average rating of “Hold” from the twenty-four analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.83.

A number of research analysts recently issued reports on the company. Stifel Nicolaus cut their price objective 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. JPMorgan Chase & Co. dropped their price target on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, October 22nd. Mizuho reduced their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Piper Sandler lowered their target price on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, Robert W. Baird cut their price target on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, November 8th.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,974 shares of company stock worth $2,038,483. 2.51% of the stock is currently owned by company insiders.

Institutional Trading of Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Rivian Automotive by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock worth $492,000 after buying an additional 604 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after acquiring an additional 670 shares during the period. Certuity LLC grew its holdings in Rivian Automotive by 8.1% during the 2nd quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock worth $145,000 after acquiring an additional 815 shares in the last quarter. Blue Trust Inc. increased its position in Rivian Automotive by 39.0% during the 2nd quarter. Blue Trust Inc. now owns 3,230 shares of the electric vehicle automaker’s stock valued at $43,000 after purchasing an additional 907 shares during the period. Finally, John G Ullman & Associates Inc. increased its position in Rivian Automotive by 9.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock valued at $135,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $14.37 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock has a 50-day simple moving average of $11.08 and a two-hundred day simple moving average of $12.66. The firm has a market capitalization of $14.67 billion, a PE ratio of -2.57 and a beta of 2.12. Rivian Automotive has a 52-week low of $8.26 and a 52-week high of $24.61.

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.