Rivian Automotive (NASDAQ:RIVN) Stock Price Up 0.5% – Time to Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN) rose 0.5% during mid-day trading on Monday . The stock traded as high as $10.94 and last traded at $10.81. Approximately 6,682,105 shares were traded during trading, a decline of 82% from the average daily volume of 36,931,864 shares. The stock had previously closed at $10.75.

Wall Street Analyst Weigh In

RIVN has been the topic of several recent research reports. Mizuho dropped their target price on Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday. Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of Rivian Automotive in a report on Tuesday. Baird R W lowered Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird reiterated a “neutral” rating and set a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Finally, UBS Group increased their price objective on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.64.

Rivian Automotive Price Performance

The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of -2.37 and a beta of 2.03. The stock has a 50-day moving average price of $12.57 and a 200 day moving average price of $12.21.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.43 billion. As a group, equities research analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insider Activity

In related news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,879,847.36. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,427 shares of company stock worth $2,735,619 in the last ninety days. Company insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors have recently bought and sold shares of the company. Tandem Financial LLC acquired a new stake in Rivian Automotive in the 4th quarter worth about $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive in the third quarter valued at approximately $28,000. Hantz Financial Services Inc. grew its position in shares of 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 purchasing an additional 2,900 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new position in Rivian Automotive in the fourth quarter valued at approximately $34,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.