Key Points
- CEO Robert Scaringe sold 17,450 shares on Nov. 25 at an average price of $15.11 for $263,669.50, reducing his stake by 1.45% to 1,185,009 shares (disclosed in an SEC filing).
- Analyst sentiment is mixed with a MarketBeat consensus of "Hold" and a $14.34 average price target, while recent broker actions include targets ranging from $10 to $13 and several neutral/underperform ratings.
- Rivian shares opened at $16.88, trade between a 52-week low of $10.36 and high of $18.13, and the company has a market cap of about $20.7 billion and a negative P/E of -5.43, reflecting continued volatility and unprofitable results.
Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) CEO Robert Scaringe sold 17,450 shares of the company's stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $15.11, for a total value of $263,669.50. Following the transaction, the chief executive officer directly owned 1,185,009 shares in the company, valued at approximately $17,905,485.99. This represents a 1.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Rivian Automotive Price Performance
Shares of RIVN stock opened at $16.88 on Friday. The stock has a 50 day moving average price of $14.45 and a 200 day moving average price of $13.94. Rivian Automotive, Inc. has a 52-week low of $10.36 and a 52-week high of $18.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71. The firm has a market capitalization of $20.69 billion, a P/E ratio of -5.43 and a beta of 1.81.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. UBS Group lifted their target price on Rivian Automotive from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. Zacks Research upgraded shares of Rivian Automotive from a "strong sell" rating to a "hold" rating in a report on Monday, November 10th. The Goldman Sachs Group dropped their target price on shares of Rivian Automotive from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 5th. Mizuho reaffirmed an "underperform" rating and set a $10.00 target price (down from $14.00) on shares of Rivian Automotive in a research report on Monday, October 20th. Finally, Morgan Stanley lowered their price target on Rivian Automotive from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Six investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $14.34.
Get Our Latest Research Report on Rivian Automotive
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Caisse Des Depots ET Consignations bought a new stake in Rivian Automotive during the 1st quarter valued at $2,807,000. Ethos Financial Group LLC purchased a new stake in shares of Rivian Automotive during the 1st quarter worth $311,000. Tableaux LLC bought a new stake in Rivian Automotive during the second quarter valued at about $3,435,000. Intech Investment Management LLC grew its stake in Rivian Automotive by 522.0% in the first quarter. Intech Investment Management LLC now owns 350,965 shares of the electric vehicle automaker's stock valued at $4,370,000 after purchasing an additional 294,539 shares during the last quarter. Finally, Udine Wealth Management Inc. purchased a new position in Rivian Automotive in the second quarter valued at about $937,000. Hedge funds and other institutional investors own 66.25% of the company's stock.
About Rivian Automotive
(
Get Free Report)
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.
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