Metis Global Partners LLC Acquires 7,922 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Metis Global Partners LLC increased its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 123,086 shares of the electric vehicle automaker’s stock after buying an additional 7,922 shares during the period. Metis Global Partners LLC’s holdings in Rivian Automotive were worth $1,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of RIVN. Tandem Financial LLC bought a new position in Rivian Automotive during the fourth quarter valued at $25,000. Bank of Jackson Hole Trust bought a new position in Rivian Automotive during the fourth quarter valued at $27,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the third quarter valued at $28,000. Bear Mountain Capital Inc. grew its holdings in Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock valued at $36,000 after purchasing an additional 1,932 shares during the period. Finally, American Capital Advisory LLC grew its holdings in Rivian Automotive by 267.6% during the third 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 during the period. 66.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total transaction of $975,005.85. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at $11,784,877.65. This trade represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,357 shares of company stock worth $3,988,140 over the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler reduced their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Mizuho increased their price objective on Rivian Automotive from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Cantor Fitzgerald lowered Rivian Automotive from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $13.00 to $15.00 in a report on Friday, February 21st. Benchmark initiated coverage on Rivian Automotive in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Guggenheim cut their price target on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 24th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and a consensus target price of $14.87.

Rivian Automotive Trading Down 2.8 %

Shares of RIVN stock opened at $11.51 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. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.86. The company has a market capitalization of $13.01 billion, a PE ratio of -2.44 and a beta of 2.04. The business’s fifty day moving average is $13.32 and its 200 day moving average is $12.43.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

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.