Rivian Automotive (NASDAQ:RIVN) Upgraded to Strong Sell at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Rivian Automotive (NASDAQ:RIVN) to a strong sell rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of Rivian Automotive in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, October 22nd. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. Mizuho dropped their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada decreased their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Rivian Automotive has an average rating of “Hold” and a consensus price target of $15.13.

Rivian Automotive Trading Down 2.3 %

Rivian Automotive stock opened at $12.42 on Tuesday. Rivian Automotive has a 52 week low of $8.26 and a 52 week high of $18.85. 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 firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of -2.22 and a beta of 2.05. The company has a 50 day moving average price of $13.35 and a 200 day moving average price of $12.90.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $11,784,877.65. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 363,142 shares of company stock worth $4,958,860 in the last 90 days. 2.51% of the stock is owned by company insiders.

Institutional Trading of Rivian Automotive

Several institutional investors have recently modified their holdings of the company. Tandem Financial LLC bought a new position in Rivian Automotive in the fourth quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive in the 3rd quarter valued at $28,000. GHP Investment Advisors Inc. lifted 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 in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in 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 acquiring an additional 2,900 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.