Rivian Automotive (NASDAQ:RIVN) Given New $14.00 Price Target at The Goldman Sachs Group

Rivian Automotive (NASDAQ:RIVN) had its target price upped by The Goldman Sachs Group from $11.00 to $14.00 in a research note issued to investors on Monday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the electric vehicle automaker’s stock.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and issued a $15.00 price objective on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Truist Financial lifted their price objective on shares of Rivian Automotive from $10.00 to $13.00 and gave the stock a hold rating in a research note on Wednesday, June 26th. Wedbush lifted their price objective on shares of Rivian Automotive from $15.00 to $20.00 and gave the stock an outperform rating in a research note on Wednesday, June 26th. Wells Fargo & Company lowered their price objective on shares of Rivian Automotive from $14.00 to $10.00 and set an equal weight rating on the stock in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group assumed coverage on shares of Rivian Automotive in a research report on Thursday, March 7th. They issued a buy rating and a $16.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive has a consensus rating of Moderate Buy and a consensus target price of $19.04.

Rivian Automotive Stock Down 1.6 %

Rivian Automotive stock opened at $14.65 on Monday. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of -2.54 and a beta of 2.08. The company has a current ratio of 4.71, a quick ratio of 3.55 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $11.14 and its two-hundred day moving average price is $13.34. Rivian Automotive has a 52 week low of $8.26 and a 52 week high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. On average, analysts expect that Rivian Automotive will post -4.87 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at $10,234,023.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of RIVN. LPL Financial LLC increased its position in Rivian Automotive by 48.5% during the third quarter. LPL Financial LLC now owns 370,107 shares of the electric vehicle automaker’s stock worth $8,986,000 after acquiring an additional 120,883 shares during the period. Ancora Advisors LLC bought a new position in Rivian Automotive during the third quarter worth $27,000. Advisors Asset Management Inc. increased its position in Rivian Automotive by 12.9% during the third quarter. Advisors Asset Management Inc. now owns 28,403 shares of the electric vehicle automaker’s stock worth $690,000 after acquiring an additional 3,247 shares during the period. EULAV Asset Management increased its position in Rivian Automotive by 15.9% during the third quarter. EULAV Asset Management now owns 510,000 shares of the electric vehicle automaker’s stock worth $12,383,000 after acquiring an additional 70,000 shares during the period. Finally, Lido Advisors LLC bought a new position in Rivian Automotive during the third quarter worth $258,000. Institutional investors own 66.25% of the company’s stock.

About Rivian Automotive

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.