Rivian Automotive (NASDAQ:RIVN) Price Target Raised to $14.00 at Barclays

Rivian Automotive (NASDAQ:RIVN) had its target price increased by Barclays from $13.00 to $14.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the electric vehicle automaker’s stock. Barclays‘s price objective would suggest a potential upside of 7.60% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC reduced their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company cut their target price on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Benchmark initiated coverage on shares of Rivian Automotive in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 target price on the stock. Royal Bank of Canada cut their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Finally, Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.52.

Rivian Automotive Stock Down 2.1 %

Shares of RIVN stock traded down $0.28 during trading hours on Wednesday, reaching $13.01. 14,792,200 shares of the stock were exchanged, compared to its average volume of 42,663,195. The business’s fifty day moving average is $13.08 and its two-hundred day moving average is $13.04. 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 12-month low of $8.26 and a 12-month high of $18.85. The firm has a market capitalization of $13.28 billion, a P/E ratio of -2.33 and a beta of 2.05.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 8,097 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the transaction, the chief financial officer now owns 370,401 shares in the company, valued at approximately $4,518,892.20. This represents a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,429 shares of company stock valued at $4,467,450 in the last quarter. 2.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in shares of Rivian Automotive by 4.1% in the second quarter. American Century Companies Inc. now owns 154,336 shares of the electric vehicle automaker’s stock valued at $2,071,000 after purchasing an additional 6,105 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Rivian Automotive by 20.5% in the second quarter. Envestnet Asset Management Inc. now owns 172,063 shares of the electric vehicle automaker’s stock valued at $2,309,000 after purchasing an additional 29,218 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Rivian Automotive by 18.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,359 shares of the electric vehicle automaker’s stock valued at $636,000 after purchasing an additional 7,508 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Rivian Automotive by 19.9% in the second quarter. Amalgamated Bank now owns 45,082 shares of the electric vehicle automaker’s stock valued at $605,000 after purchasing an additional 7,486 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Rivian Automotive by 1.4% in the second quarter. Intech Investment Management LLC now owns 76,967 shares of the electric vehicle automaker’s stock valued at $1,033,000 after purchasing an additional 1,055 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.