Rivian Automotive (RIVN) Set to Announce Quarterly Earnings on Tuesday

Rivian Automotive (NASDAQ:RIVN) is set to issue its quarterly earnings data after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of ($1.39) per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly 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). Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. On average, analysts expect Rivian Automotive to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $14.72 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.71 and a quick ratio of 3.55. The company has a market cap of $14.65 billion, a PE ratio of -2.55 and a beta of 2.09. The stock has a fifty day moving average price of $13.82 and a 200 day moving average price of $12.54. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $27.01.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.49, for a total transaction of $820,719.21. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $10,452,349.59. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.49, for a total value of $820,719.21. Following the transaction, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $10,452,349.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 200,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $18.00, for a total transaction of $3,600,000.00. Following the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $16,374,438. The disclosure for this sale can be found here. Insiders have sold a total of 485,716 shares of company stock worth $7,509,309 in the last quarter. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on RIVN shares. Guggenheim initiated coverage on shares of Rivian Automotive in a report on Tuesday, June 25th. They issued a “buy” rating and a $18.00 target price on the stock. Canaccord Genuity Group lifted their price objective on Rivian Automotive from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 1st. Piper Sandler reissued an “overweight” rating and set a $21.00 target price on shares of Rivian Automotive in a research note on Wednesday, June 26th. Morgan Stanley lifted their price target on Rivian Automotive from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, DA Davidson upped their price objective on Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.92.

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.