Rivian Automotive, Inc. (NASDAQ:RIVN) Receives $15.52 Consensus Target Price from Brokerages

Rivian Automotive, Inc. (NASDAQ:RIVN) has received an average recommendation of “Hold” from the twenty-six brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $15.13.

Several equities analysts have recently commented on RIVN shares. Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird reissued a “neutral” rating and issued a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Truist Financial boosted their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Stifel Nicolaus reduced their target price 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. Finally, Piper Sandler reduced their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 8th.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction on Monday, November 18th. The shares were 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 of the company’s stock, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 363,142 shares of company stock worth $4,958,860 in the last three months. 2.51% of the stock is owned by company insiders.

Institutional Trading of Rivian Automotive

Institutional investors have recently bought and sold shares of the company. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust purchased a new position in Rivian Automotive in the fourth quarter valued at about $27,000. Wilmington Savings Fund Society FSB acquired a new stake in Rivian Automotive in the third quarter valued at approximately $28,000. GHP Investment Advisors Inc. raised its stake in shares of 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. Finally, American Capital Advisory LLC grew its stake in 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 purchasing an additional 2,111 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $12.56 on Wednesday. The stock’s fifty day moving average is $13.44 and its 200 day moving average is $12.80. Rivian Automotive has a one year low of $8.26 and a one year high of $18.85. 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 market cap of $12.82 billion, a P/E ratio of -2.24 and a beta of 2.05.

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.