Rivian Automotive (NASDAQ:RIVN) Shares Up 4.5% – Should You Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s stock price was up 4.5% on Wednesday . The company traded as high as $12.02 and last traded at $11.97. Approximately 10,561,899 shares changed hands during trading, a decline of 69% from the average daily volume of 34,624,223 shares. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays increased their price objective on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Rivian Automotive in a research note on Friday, November 8th. Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Stifel Nicolaus dropped their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rivian Automotive presently has an average rating of “Hold” and a consensus price target of $14.87.

Rivian Automotive Stock Performance

The firm has a market capitalization of $11.80 billion, a P/E ratio of -2.46 and a beta of 2.04. The business’s 50 day simple moving average is $13.42 and its two-hundred day simple moving average is $12.47. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN) last posted 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations 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 anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 18,501 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the sale, the chief financial officer now owns 351,900 shares of the company’s stock, valued at $5,278,500. This trade represents a 4.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total value of $975,005.85. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,357 shares of company stock valued at $3,988,140. Insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive during the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive in the 3rd quarter valued at $28,000. GHP Investment Advisors Inc. boosted its position 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 purchasing an additional 1,002 shares in the last quarter. Finally, American Capital Advisory LLC increased its stake in Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after purchasing an additional 2,111 shares in the last quarter. Hedge funds and other institutional investors 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.