Rivian Automotive (NASDAQ:RIVN) Given New $11.00 Price Target at Mizuho

Rivian Automotive (NASDAQ:RIVN) had its price target dropped by research analysts at Mizuho from $13.00 to $11.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the electric vehicle automaker’s stock. Mizuho’s price objective would suggest a potential upside of 2.33% from the stock’s previous close.

Several other research analysts have also weighed in on RIVN. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Truist Financial boosted their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Needham & Company LLC increased their price objective on Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Guggenheim cut their price target on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.64.

Rivian Automotive Trading Up 1.3 %

NASDAQ:RIVN opened at $10.75 on Monday. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $18.86. The stock has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $12.25. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of -2.28 and a beta of 2.03. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Sell-side analysts forecast that Rivian Automotive will post -3.2 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $13,960,547.37. The trade was a 7.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock worth $2,735,619 over the last 90 days. 2.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Rivian Automotive

A number of institutional investors have recently made changes to their positions in RIVN. Tandem Financial LLC bought a new position in Rivian Automotive during the fourth quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the 3rd quarter worth approximately $28,000. Hantz Financial Services Inc. grew its holdings in Rivian Automotive by 2,636.4% during 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, Orion Capital Management LLC bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $34,000. 66.25% of the stock is owned by institutional investors and hedge funds.

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.