UBS Group began coverage on shares of Rivian (NASDAQ:RIVN) in a report published on Tuesday morning, The Fly reports. The firm issued a buy rating on the electric vehicle automaker’s stock.
Several other equities research analysts have also recently weighed in on the company. Barclays reduced their price objective on Rivian from $120.00 to $115.00 and set an equal weight rating for the company in a research report on Friday, December 17th. Redburn Partners started coverage on Rivian in a research report on Tuesday. They issued a buy rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Rivian in a research report on Sunday, December 5th. They issued a buy rating and a $130.00 price objective for the company. The Goldman Sachs Group assumed coverage on Rivian in a research report on Sunday, December 5th. They issued a neutral rating and a $94.00 target price for the company. Finally, Piper Sandler assumed coverage on Rivian in a research report on Monday, December 6th. They issued an overweight rating and a $148.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of 134.64.
Shares of RIVN stock opened at 79.95 on Tuesday. Rivian has a 12 month low of 75.13 and a 12 month high of 179.47. The company’s 50 day moving average is 109.15.
In other Rivian news, Director Rose M. Marcario bought 12,000 shares of the stock in a transaction dated Monday, November 15th. The stock was bought at an average cost of 78.00 per share, for a total transaction of 936,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeff Baker bought 20,000 shares of the stock in a transaction dated Monday, November 15th. The stock was acquired at an average price of 78.00 per share, with a total value of 1,560,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 171,025 shares of company stock valued at $13,339,950.
Large investors have recently made changes to their positions in the company. Baldwin Brothers LLC MA acquired a new stake in shares of Rivian in the fourth quarter valued at $26,000. Koshinski Asset Management Inc. acquired a new stake in Rivian in the fourth quarter worth about $270,000. Wedbush Securities Inc. acquired a new stake in Rivian in the fourth quarter worth about $631,000. Finally, DNB Asset Management AS acquired a new stake in Rivian in the fourth quarter worth about $2,585,000. Institutional investors own 30.45% of the company’s stock.
Rivian is an American electric vehicle automaker and automotive technology company founded in 2009. Rivian is building an electric sport utility vehicle and pickup truck on a “skateboard” platform that can support future vehicles or be adopted by other companies.
See Also: How to Invest in a Bull Market
Receive News & Ratings for Rivian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rivian and related companies with MarketBeat.com's FREE daily email newsletter.