Rivian Automotive (NASDAQ:RIVN) Shares Down 1.8% – Should You Sell?

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) traded down 1.8% during mid-day trading on Friday . The company traded as low as $12.48 and last traded at $12.57. 6,447,862 shares were traded during trading, a decline of 81% from the average session volume of 33,745,746 shares. The stock had previously closed at $12.80.

Wall Street Analysts Forecast Growth

RIVN has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Barclays upped their target price on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 22nd. Mizuho cut their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. UBS Group increased their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Piper Sandler reduced their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.13.

Rivian Automotive Trading Down 2.5 %

The business’s 50-day simple moving average is $13.51 and its 200-day simple moving average is $12.74. 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 company has a market cap of $12.74 billion, a PE ratio of -2.23 and a beta of 2.04.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.00, for a total transaction of $277,515.00. Following the transaction, the chief financial officer now owns 351,900 shares in the company, valued at $5,278,500. This represents a 4.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 363,142 shares of company stock valued at $4,958,860. Insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIVN. Clare Market Investments LLC bought a new stake in Rivian Automotive in the 4th quarter valued at $287,000. AMF Tjanstepension AB acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $3,999,000. Edgestream Partners L.P. bought a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $3,719,000. Freestone Capital Holdings LLC increased its position in shares of Rivian Automotive by 4.1% during the fourth quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker’s stock valued at $390,000 after purchasing an additional 1,164 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Rivian Automotive in the fourth quarter worth $9,432,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Company 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.