Moors & Cabot Inc. Has $271,000 Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Moors & Cabot Inc. lifted its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 34.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,195 shares of the electric vehicle automaker’s stock after purchasing an additional 6,250 shares during the quarter. Moors & Cabot Inc.’s holdings in Rivian Automotive were worth $271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC increased its stake in Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 831 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Rivian Automotive by 975.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 2,380 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Rivian Automotive by 63.2% in the third 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 during the period. American Capital Advisory LLC raised its stake in Rivian Automotive by 267.6% in the third 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. Finally, International Assets Investment Management LLC bought a new stake in Rivian Automotive during the second quarter worth about $37,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on RIVN shares. JPMorgan Chase & Co. decreased 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 price objective on shares of Rivian Automotive in a research report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $19.00 target price on shares of Rivian Automotive in a report on Monday, September 30th. Barclays lowered their price target on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Finally, UBS Group reduced their price objective on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.73.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $10.24 on Friday. The firm has a market cap of $10.45 billion, a P/E ratio of -1.83 and a beta of 2.04. The stock’s 50 day moving average is $10.75 and its 200 day moving average is $12.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.61.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the transaction, the chief executive officer now directly owns 886,526 shares in the company, valued at $12,127,675.68. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,876 shares of company stock worth $2,142,188. Company insiders own 2.51% of the company’s stock.

Rivian Automotive 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.