Rivian Automotive (NASDAQ:RIVN) Stock Price Expected to Rise, Truist Financial Analyst Says

Rivian Automotive (NASDAQ:RIVN) had its target price lifted by Truist Financial from $12.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a hold rating on the electric vehicle automaker’s stock.

RIVN has been the subject of a number of other reports. Benchmark initiated coverage on shares of Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. Piper Sandler lowered their target price on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Guggenheim reduced their price target on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Bank of America lowered Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $13.00 in a research report on Friday, November 8th. Finally, Stifel Nicolaus cut their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Rivian Automotive has an average rating of “Hold” and a consensus price target of $15.48.

Rivian Automotive Stock Performance

RIVN opened at $14.44 on Thursday. The firm has a 50 day moving average of $12.89 and a two-hundred day moving average of $13.07. The firm has a market capitalization of $14.74 billion, a PE ratio of -2.58 and a beta of 2.05. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $18.85.

Insider Buying and Selling

In other news, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total value of $937,507.50. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,429 shares of company stock worth $4,467,450. 2.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive during the third quarter worth $28,000. GHP Investment Advisors Inc. raised its holdings in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares during the period. American Capital Advisory LLC boosted its position in shares of Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Rivian Automotive during the third quarter worth about $44,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.