Rivian Automotive (NASDAQ:RIVN) Trading Up 4.2% – Time to Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price shot up 4.2% on Tuesday . The stock traded as high as $12.94 and last traded at $12.91. 6,455,081 shares traded hands during trading, a decline of 82% from the average session volume of 35,887,531 shares. The stock had previously closed at $12.39.

Analysts Set New Price Targets

A number of research firms recently weighed in on RIVN. Mizuho decreased their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Needham & Company LLC reduced their target price on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Canaccord Genuity Group reduced their price objective on shares of Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 7th. Barclays raised their price objective on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Rivian Automotive in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and a consensus target price of $15.13.

Rivian Automotive Stock Performance

The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average of $13.46 and a 200 day moving average of $12.76. The stock has a market cap of $13.14 billion, a PE ratio of -2.30 and a beta of 2.04.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total transaction of $491,410.88. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at $11,879,847.36. This represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 363,142 shares of company stock valued at $4,958,860 over the last quarter. 2.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tandem Financial LLC acquired a new position in shares of Rivian Automotive in the fourth quarter worth $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Rivian Automotive during the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive in the third quarter valued at about $28,000. GHP Investment Advisors Inc. boosted its stake in shares of Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares during the period. Finally, American Capital Advisory LLC increased its position in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after acquiring an additional 2,111 shares during the last quarter. 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.