Rivian Automotive (NASDAQ:RIVN) Stock Price Down 3.1% – What’s Next?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price fell 3.1% during trading on Monday . The stock traded as low as $11.69 and last traded at $12.03. 11,542,823 shares were traded during mid-day trading, a decline of 69% from the average session volume of 37,030,883 shares. The stock had previously closed at $12.41.

Analyst Ratings Changes

RIVN has been the topic of several research reports. Piper Sandler cut Rivian Automotive from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $13.00 in a report on Thursday, March 20th. Barclays boosted their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald downgraded shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and raised their price target for the company from $13.00 to $15.00 in a research note on Friday, February 21st. TD Cowen assumed coverage on shares of Rivian Automotive in a research note on Friday, March 7th. They issued a “hold” rating and a $12.70 price objective on the stock. Finally, Baird R W lowered Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rivian Automotive has an average rating of “Hold” and a consensus price target of $14.38.

Rivian Automotive Trading Up 1.2 %

The business has a 50 day moving average of $12.26 and a two-hundred day moving average of $12.12. The firm has a market capitalization of $14.21 billion, a price-to-earnings ratio of -2.66 and a beta of 2.03. 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 (NASDAQ:RIVN) last issued its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Equities analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $11.82, for a total transaction of $844,290.78. Following the transaction, the chief executive officer now owns 853,011 shares of the company’s stock, valued at $10,082,590.02. The trade was a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock valued at $2,588,475 over the last three months. Corporate insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RIVN. Tandem Financial LLC purchased a new stake in Rivian Automotive in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive in the third quarter valued at $28,000. Orion Capital Management LLC bought a new stake in Rivian Automotive in the 4th quarter valued at about $34,000. Finally, Bear Mountain Capital Inc. raised its position in shares of Rivian Automotive by 208.0% in 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. 66.25% of the stock is owned by institutional investors.

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.