Rivian Automotive (NASDAQ:RIVN) Shares Increased by 3.6% - An Overview

Rivian Automotive, Inc. (NASDAQ:RIVN) experienced a notable rise in its stock price by 3.6% during mid-day trading on Wednesday. The company's shares peaked at $11.69 before settling at $11.61, after closing at $11.20 the previous day. In total, about 6,519,365 shares changed hands, marking an 82% drop from the average daily volume of 36,845,342 shares.

Recent Analyst Opinions on Rivian Automotive

Wall Street analysts have recently offered their insights on Rivian Automotive's shares. On February 21, Wells Fargo & Company raised their target price on the stock from $11.00 to $14.00 while maintaining an "equal weight" rating. Robert W. Baird also reaffirmed a "neutral" rating but adjusted their price target down from $18.00 to $16.00 on December 18. Meanwhile, Benchmark granted a "buy" rating with a target of $18.00. Conversely, Sanford C. Bernstein initiated coverage with an "underperform" rating and a price objective of $6.10. Guggenheim adjusted their target for Rivian from $18.00 to $16.00 while keeping a "buy" designation. The consensus now stands at 3 sell ratings, 16 holds, and 7 buy ratings, with a collective target price of $14.64.

Company Performance Metrics

Currently, Rivian Automotive boasts a market capitalization of $13.01 billion and exhibits a PE ratio of -2.44 along with a beta of 2.03. Its fifty-day moving average stands at $12.57, while its 200-day moving average is $12.21. The company maintains a solid liquidity position with a quick ratio of 3.70 and a current ratio of 5.09, though it also carries a debt-to-equity ratio of 0.93.

Rivian recently reported its quarterly earnings on February 20, revealing earnings per share of ($0.63), which surpassed analyst expectations of ($0.69) by $0.06. The company's revenue for the quarter reached $1.73 billion, exceeding estimates of $1.43 billion. Despite these positive results, Rivian reported a negative return on equity of 66.26% and a net margin of -95.51%. Sell-side analysts anticipate Rivian will post an earnings per share of -3.2 for the current fiscal year.

Insider Trading Activities

In notable insider transactions, CEO Robert J. Scaringe sold 71,429 shares on January 6 at an average price of $16.17, totaling approximately $1.15 million. Following this transaction, he still owns around 863,361 shares valued at about $13.96 million, representing a decrease of 7.64% in his holdings. CFO Claire Mcdonough also sold 6,856 shares on February 19 at an average price of $14.26, totaling about $97,767. After the sale, she owns 335,076 shares worth approximately $4.78 million, reflecting a 2.01% decrease. Over the past three months, insiders have sold a total of 185,427 shares, valued at around $2.74 million, with insiders holding 2.51% of the company's stock.

Institutional Investment Trends

Recent trading activity indicates growing institutional interest in Rivian Automotive. In the fourth quarter, Tandem Financial LLC and Bank of Jackson Hole Trust purchased new shares valued at $25,000 and $27,000 respectively. Further, Hantz Financial Services Inc. significantly increased their stake by 2,636.4%, acquiring 3,010 shares worth around $34,000. Institutional investors now own approximately 66.25% of Rivian's stock.

Company Overview

Rivian Automotive, Inc. designs and manufactures electric vehicles and related accessories. Their product lineup includes the R1T, a two-row, five-passenger pickup truck, and the R1S, a three-row, seven-passenger sport utility vehicle.

Rivian, stocks, investing