Key Points
- Director Peter Krawiec sold 3,655 shares of Rivian on Dec. 15 at an average price of $19.45 for $71,089.75, trimming his stake by 11.15% to 29,122 shares valued around $566,423.
- Rivian beat Q3 estimates, reporting ($0.65) EPS versus ($0.71) expected and revenue of $1.56 billion (up 78.3% YoY), though the company remains unprofitable with negative margins and ROE.
- Analyst views are mixed: several firms recently raised targets (Needham to $23, Baird to $25) but the MarketBeat consensus is a "Hold" with a $15.34 price target.
Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) Director Peter Krawiec sold 3,655 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $19.45, for a total value of $71,089.75. Following the completion of the transaction, the director owned 29,122 shares of the company's stock, valued at $566,422.90. This trade represents a 11.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Rivian Automotive Trading Up 6.0%
RIVN traded up $1.06 during trading on Thursday, reaching $18.69. The company had a trading volume of 13,375,206 shares, compared to its average volume of 38,808,336. The firm's 50-day simple moving average is $15.26 and its 200 day simple moving average is $14.13. 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 company has a market cap of $22.91 billion, a price-to-earnings ratio of -5.93 and a beta of 1.79. Rivian Automotive, Inc. has a 12-month low of $10.36 and a 12-month high of $19.60.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.06. The company had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.27 billion. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The business's revenue for the quarter was up 78.3% on a year-over-year basis. During the same period last year, the company posted ($1.08) earnings per share. Equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.
Institutional Trading of Rivian Automotive
A number of institutional investors and hedge funds have recently made changes to their positions in RIVN. Assetmark Inc. raised its stake in shares of Rivian Automotive by 315.6% in the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker's stock valued at $25,000 after acquiring an additional 1,357 shares in the last quarter. Banque Transatlantique SA boosted its position in Rivian Automotive by 13,194.1% during the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock worth $26,000 after purchasing an additional 2,243 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in Rivian Automotive by 113.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. Mather Group LLC. bought a new position in shares of Rivian Automotive in the third quarter valued at approximately $30,000. Finally, Fairman Group LLC bought a new position in shares of Rivian Automotive in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 66.25% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on RIVN shares. Needham & Company LLC lifted their price objective on shares of Rivian Automotive from $14.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, December 12th. Robert W. Baird raised Rivian Automotive from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $14.00 to $25.00 in a research report on Thursday. Canaccord Genuity Group reiterated a "buy" rating on shares of Rivian Automotive in a report on Monday. Stifel Nicolaus increased their price objective on Rivian Automotive from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, November 17th. Finally, Morgan Stanley restated an "underweight" rating and set a $12.00 price objective on shares of Rivian Automotive in a research report on Monday, December 8th. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.34.
Read Our Latest Report on RIVN
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.
Further Reading
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