Rivian Automotive (NASDAQ:RIVN) Trading 5.8% Higher – What’s Next?

Rivian Automotive, Inc. (NASDAQ:RIVN) rose 5.8% on Monday . The company traded as high as $15.38 and last traded at $15.20. Approximately 21,620,375 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 39,872,055 shares. The stock had previously closed at $14.37.

Wall Street Analysts Forecast Growth

RIVN has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Rivian Automotive in a research note on Friday, November 8th. Guggenheim lowered their target price on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Barclays cut their target price on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 price target on shares of Rivian Automotive in a research note on Tuesday, September 10th. Finally, Bank of America cut Rivian Automotive from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $13.00 in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.83.

Rivian Automotive Stock Performance

The firm has a market cap of $15.66 billion, a PE ratio of -2.71 and a beta of 2.12. The business has a 50 day simple moving average of $11.08 and a two-hundred day simple moving average of $12.68. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of Rivian Automotive 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 transaction, the chief executive officer now owns 863,361 shares in the company, valued at $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 a total of 177,974 shares of company stock valued at $2,038,483 in the last three months. Company insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Several institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive during the third quarter valued at $28,000. GHP Investment Advisors Inc. lifted its position in 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 valued at $29,000 after purchasing an additional 1,002 shares during the period. American Capital Advisory LLC raised its stake in shares of Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after buying an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after buying an additional 2,900 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Rivian Automotive during the second quarter worth about $37,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

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.