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

Rivian Automotive (NASDAQ:RIVN) had its price objective upped by Barclays from $13.00 to $14.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the electric vehicle automaker’s stock.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, October 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Rivian Automotive in a research report on Monday, January 6th. Robert W. Baird reiterated a “neutral” rating and set a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. The Goldman Sachs Group upped their price target on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus dropped their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and an average target price of $15.52.

Rivian Automotive Stock Down 4.5 %

RIVN opened at $12.69 on Wednesday. The company has a market cap of $12.95 billion, a PE ratio of -2.27 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive has a 1 year low of $8.26 and a 1 year high of $18.85. The firm has a 50 day moving average price of $13.09 and a 200 day moving average price of $13.03.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 8,097 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the sale, the chief financial officer now owns 370,401 shares of the company’s stock, valued at approximately $4,518,892.20. This trade represents a 2.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.17, for a total value of $1,155,006.93. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,429 shares of company stock worth $4,467,450. 2.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rivian Automotive

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Rivian Automotive by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 154,336 shares of the electric vehicle automaker’s stock valued at $2,071,000 after purchasing an additional 6,105 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Rivian Automotive by 20.5% during the second quarter. Envestnet Asset Management Inc. now owns 172,063 shares of the electric vehicle automaker’s stock worth $2,309,000 after buying an additional 29,218 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Rivian Automotive by 18.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,359 shares of the electric vehicle automaker’s stock worth $636,000 after buying an additional 7,508 shares in the last quarter. Amalgamated Bank increased its position in Rivian Automotive by 19.9% in the 2nd quarter. Amalgamated Bank now owns 45,082 shares of the electric vehicle automaker’s stock valued at $605,000 after acquiring an additional 7,486 shares during the period. Finally, Intech Investment Management LLC boosted its position in Rivian Automotive by 1.4% during the 2nd quarter. Intech Investment Management LLC now owns 76,967 shares of the electric vehicle automaker’s stock worth $1,033,000 after acquiring an additional 1,055 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

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.