Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating)’s stock price hit a new 52-week low during trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $43.00 to $28.00. The stock traded as low as 15.28 and last traded at 15.79, with a volume of 28441500 shares trading hands. The stock had previously closed at 16.50.
A number of other research analysts have also commented on the stock. Wedbush lowered their price objective on shares of Rivian Automotive from $45.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, November 10th. Cantor Fitzgerald began coverage on shares of Rivian Automotive in a research note on Tuesday, December 20th. They set an “overweight” rating and a $22.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Rivian Automotive from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, November 14th. The Goldman Sachs Group lowered their price objective on shares of Rivian Automotive from $41.00 to $19.00 in a research note on Tuesday, January 10th. Finally, Cfra lowered shares of Rivian Automotive to a “sell” rating and set a $25.00 price objective on the stock. in a research note on Friday, September 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of 42.67.
Insider Buying and Selling
In related news, CFO Claire Mcdonough sold 14,235 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total value of 497,086.20. Following the completion of the transaction, the chief financial officer now owns 81,151 shares of the company’s stock, valued at approximately 2,833,792.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Rivian Automotive news, CFO Claire Mcdonough sold 14,235 shares of Rivian Automotive stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total transaction of 497,086.20. Following the completion of the sale, the chief financial officer now owns 81,151 shares of the company’s stock, valued at approximately 2,833,792.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeff Baker sold 1,689 shares of Rivian Automotive stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.38, for a total transaction of 58,067.82. Following the sale, the chief accounting officer now directly owns 89,331 shares of the company’s stock, valued at approximately 3,071,199.78. The disclosure for this sale can be found here. Company insiders own 2.34% of the company’s stock.
Institutional Investors Weigh In On Rivian Automotive
A number of institutional investors have recently modified their holdings of RIVN. Bartlett & Co. LLC raised its holdings in shares of Rivian Automotive by 104.2% during the 2nd quarter. Bartlett & Co. LLC now owns 980 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Concord Wealth Partners bought a new position in shares of Rivian Automotive during the 2nd quarter valued at $25,000. Gould Capital LLC raised its holdings in shares of Rivian Automotive by 175.4% during the 3rd quarter. Gould Capital LLC now owns 785 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. Venture Visionary Partners LLC bought a new position in shares of Rivian Automotive during the 2nd quarter valued at $27,000. Finally, Seeyond bought a new position in shares of Rivian Automotive during the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 67.97% of the company’s stock.
Rivian Automotive Stock Down 4.3 %
The firm has a market cap of $14.54 billion, a P/E ratio of -1.52 and a beta of 1.84. The business’s fifty day moving average price is 23.86 and its two-hundred day moving average price is 30.23. The company has a current ratio of 6.84, a quick ratio of 6.39 and a debt-to-equity ratio of 0.08.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The electric vehicle automaker reported -1.57 earnings per share for the quarter, beating analysts’ consensus estimates of -1.78 by 0.21. The business had revenue of 536.00 million for the quarter, compared to the consensus estimate of 513.89 million. Rivian Automotive had a negative net margin of 714.01% and a negative return on equity of 32.42%. As a group, equities research analysts anticipate that Rivian Automotive, Inc. will post -7.41 EPS for the current year.
Rivian Automotive Company Profile
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
