Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Holdings Increased by Vicus Capital

Vicus Capital increased its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 11.6% in the first quarter, HoldingsChannel reports. The firm owned 13,633 shares of the electric vehicle automaker’s stock after acquiring an additional 1,422 shares during the period. Vicus Capital’s holdings in Rivian Automotive were worth $149,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RIVN. RFG Holdings Inc. lifted its stake in shares of Rivian Automotive by 74.7% in the first quarter. RFG Holdings Inc. now owns 17,914 shares of the electric vehicle automaker’s stock worth $196,000 after buying an additional 7,659 shares during the last quarter. Austin Private Wealth LLC grew its position in shares of Rivian Automotive by 64.7% during the 1st quarter. Austin Private Wealth LLC now owns 25,787 shares of the electric vehicle automaker’s stock worth $272,000 after buying an additional 10,128 shares during the period. Strategic Planning Group LLC bought a new position in Rivian Automotive during the 1st quarter worth approximately $867,000. Global Assets Advisory LLC bought a new position in Rivian Automotive in the first quarter valued at approximately $574,000. Finally, True North Advisors LLC grew its stake in shares of Rivian Automotive by 41.8% during the 1st quarter. True North Advisors LLC now owns 26,344 shares of the electric vehicle automaker’s stock worth $288,000 after acquiring an additional 7,766 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RIVN shares. Needham & Company LLC boosted their price target on Rivian Automotive from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. Mizuho lowered their target price on shares of Rivian Automotive from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Piper Sandler reaffirmed an “overweight” rating and set a $21.00 price target on shares of Rivian Automotive in a research note on Wednesday. Barclays dropped their price objective on Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Finally, Cantor Fitzgerald lifted their price objective on shares of Rivian Automotive from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $10,234,023.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Rivian Automotive Stock Down 7.3 %

RIVN traded down $1.05 during trading on Friday, hitting $13.42. The company had a trading volume of 88,110,272 shares, compared to its average volume of 45,308,744. The business has a 50-day moving average of $10.68 and a 200-day moving average of $13.48. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $28.06. The company has a market cap of $13.36 billion, a PE ratio of -2.33 and a beta of 2.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.71 and a quick ratio of 3.55.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.03). The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. As a group, analysts forecast that Rivian Automotive, Inc. will post -4.93 earnings per share for the current year.

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.