Jay Flatley Buys 490 Shares of Rivian Automotive (NASDAQ:RIVN) Stock

Rivian Automotive, Inc. (NASDAQ:RIVNGet Free Report) Director Jay Flatley bought 490 shares of Rivian Automotive stock in a transaction on Thursday, July 6th. The stock was acquired at an average cost of $20.67 per share, with a total value of $10,128.30. Following the acquisition, the director owned 161,310 shares in the company, valued at approximately $3,334,277.70. This represents a 0.30% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rivian Automotive Stock Performance

Shares of RIVN stock traded up $0.27 on Thursday, reaching $15.19. The stock had a trading volume of 27,648,360 shares, compared to its average volume of 30,787,961. The company has a 50 day simple moving average of $16.73 and a 200 day simple moving average of $15.63. Rivian Automotive, Inc. has a 1 year low of $10.36 and a 1 year high of $22.69. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.89 and a current ratio of 2.33. The stock has a market cap of $18.85 billion, a P/E ratio of -4.95 and a beta of 1.75.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last released its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.02. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative return on equity of 65.05% and a negative net margin of 67.68%.Rivian Automotive’s quarterly revenue was down 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.70) earnings per share. Equities research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RIVN. Core Wealth Advisors LLC purchased a new position in Rivian Automotive in the 4th quarter valued at approximately $27,000. SOA Wealth Advisors LLC. grew its stake in Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after acquiring an additional 1,395 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Rivian Automotive during the 4th quarter valued at about $33,000. Glass Jacobson Investment Advisors llc raised its holdings in shares of Rivian Automotive by 96.3% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 852 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Rivian Automotive by 315.6% during the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock worth $25,000 after purchasing an additional 1,357 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

Analyst Ratings Changes

Several analysts recently weighed in on RIVN shares. Canaccord Genuity Group restated a “buy” rating on shares of Rivian Automotive in a report on Monday, December 15th. Evercore reaffirmed an “outperform” rating on shares of Rivian Automotive in a report on Monday, December 15th. DA Davidson downgraded shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $15.00 to $14.00 in a report on Tuesday, February 17th. Jefferies Financial Group restated a “hold” rating and issued a $15.00 price objective on shares of Rivian Automotive in a research report on Tuesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rivian Automotive in a research note on Monday, February 9th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rivian Automotive presently has a consensus rating of “Hold” and an average target price of $17.86.

View Our Latest Stock Analysis on RIVN

About Rivian Automotive

(Get Free Report)

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.

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Insider Buying and Selling by Quarter for Rivian Automotive (NASDAQ:RIVN)

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