Rivian Automotive’s (RIVN) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Rivian Automotive (NASDAQ:RIVN)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $19.00 price target on the electric vehicle automaker’s stock. Cantor Fitzgerald’s target price points to a potential upside of 5.91% from the company’s current price.

RIVN has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on Rivian Automotive from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Wednesday, June 26th. UBS Group increased their target price on shares of Rivian Automotive from $10.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Guggenheim began coverage on shares of Rivian Automotive in a report on Tuesday, June 25th. They set a “buy” rating and a $18.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 price objective on shares of Rivian Automotive in a report on Tuesday, April 2nd. Finally, Mizuho boosted their target price on Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Rivian Automotive Trading Up 2.5 %

NASDAQ RIVN opened at $17.94 on Monday. The firm’s 50 day moving average price is $12.25 and its two-hundred day moving average price is $12.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $28.06. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of -3.11 and a beta of 2.07.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. Equities analysts anticipate that Rivian Automotive will post -4.87 EPS for the current year.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the transaction, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $10,234,023.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Robert J. Scaringe sold 200,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $18.00, for a total value of $3,600,000.00. Following the completion of the sale, the chief executive officer now owns 909,691 shares in the company, valued at $16,374,438. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the transaction, the chief executive officer now owns 909,691 shares in the company, valued at $10,234,023.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 414,287 shares of company stock valued at $6,293,588. 2.30% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Several institutional investors have recently modified their holdings of RIVN. ORG Partners LLC bought a new position in Rivian Automotive in the second quarter worth $197,000. Wedmont Private Capital bought a new stake in Rivian Automotive in the 2nd quarter valued at $199,000. RFG Holdings Inc. raised its stake in shares of Rivian Automotive by 17.1% in the 2nd quarter. RFG Holdings Inc. now owns 20,983 shares of the electric vehicle automaker’s stock valued at $282,000 after buying an additional 3,069 shares in the last quarter. Sapient Capital LLC lifted its holdings in shares of Rivian Automotive by 23.1% during the 2nd quarter. Sapient Capital LLC now owns 28,200 shares of the electric vehicle automaker’s stock worth $378,000 after acquiring an additional 5,300 shares during the period. Finally, Sanders Morris Harris LLC boosted its position in shares of Rivian Automotive by 8.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 10,105 shares of the electric vehicle automaker’s stock valued at $136,000 after acquiring an additional 823 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

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.