Rivian Automotive (NASDAQ:RIVN) Stock Price Down 1.3% – Should You Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price fell 1.3% during trading on Tuesday . The stock traded as low as $12.05 and last traded at $12.03. 6,633,926 shares were traded during trading, a decline of 82% from the average session volume of 36,980,596 shares. The stock had previously closed at $12.19.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RIVN shares. UBS Group upped their target price on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Cantor Fitzgerald cut Rivian Automotive from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $13.00 to $15.00 in a research note on Friday, February 21st. Cowen assumed coverage on Rivian Automotive in a research report on Thursday, March 6th. They issued a “hold” rating on the stock. Truist Financial raised their price target 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. Finally, Baird R W lowered shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.38.

Rivian Automotive Price Performance

The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock has a market capitalization of $14.76 billion, a PE ratio of -2.77 and a beta of 2.03. The stock’s 50 day moving average is $12.32 and its two-hundred day moving average is $12.14.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data 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 company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. On average, equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of the company’s stock in a transaction dated 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock worth $2,588,475 in the last 90 days. Insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of large investors have recently made changes to their positions in RIVN. Lansforsakringar Fondforvaltning AB publ acquired a new position in Rivian Automotive during the 4th quarter worth approximately $3,198,000. PKO Investment Management Joint Stock Co purchased a new stake in shares of Rivian Automotive during the 4th quarter worth $479,000. Siemens Fonds Invest GmbH acquired a new position in shares of Rivian Automotive during the fourth quarter worth $145,000. Gould Capital LLC increased its holdings in Rivian Automotive by 87.6% in the fourth quarter. Gould Capital LLC now owns 7,025 shares of the electric vehicle automaker’s stock valued at $93,000 after buying an additional 3,280 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC acquired a new stake in Rivian Automotive in the fourth quarter valued at $206,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

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.