Recent Analysts’ Ratings Changes for Rivian Automotive (RIVN)

Rivian Automotive (NASDAQ: RIVN) recently received a number of ratings updates from brokerages and research firms:

• 9/10/2024 – Rivian Automotive had its “hold” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $14.00 price target on the stock.
• 9/9/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 9/5/2024 – Rivian Automotive is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
• 9/3/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 8/19/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 8/16/2024 – Rivian Automotive had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $15.00 price target on the stock.
• 8/7/2024 – Rivian Automotive had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $20.00 price target on the stock.
• 8/7/2024 – Rivian Automotive had its price target lowered by analysts at UBS Group AG from $17.00 to $16.00. They now have a “neutral” rating on the stock.
• 8/7/2024 – Rivian Automotive had its price target lowered by analysts at Wells Fargo & Company from $18.00 to $15.00. They now have an “equal weight” rating on the stock.
• 8/7/2024 – Rivian Automotive had its price target lowered by analysts at Needham & Company LLC from $20.00 to $18.00. They now have a “buy” rating on the stock.
• 8/5/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 8/2/2024 – Rivian Automotive had its price target raised by analysts at Truist Financial Co. from $13.00 to $16.00. They now have a “hold” rating on the stock.
• 7/22/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.
• 7/18/2024 – Rivian Automotive had its price target raised by analysts at Wells Fargo & Company from $10.00 to $18.00. They now have an “equal weight” rating on the stock.
• 7/17/2024 – Rivian Automotive had its price target raised by analysts at Morgan Stanley from $13.00 to $17.00. They now have an “overweight” rating on the stock.
• 7/16/2024 – Rivian Automotive had its price target raised by analysts at Barclays PLC from $14.00 to $16.00. They now have an “equal weight” rating on the stock.
• 7/15/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 price target on the stock.

Rivian Automotive Stock Performance

RIVN opened at $14.05 on Friday. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of -2.44 and a beta of 2.06. The business’s 50-day moving average price is $14.89 and its two-hundred day moving average price is $12.24. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. Equities analysts expect that Rivian Automotive, Inc. will post -4.82 EPS for the current fiscal year.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Robert J. Scaringe sold 200,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the transaction, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $16,374,438. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the sale, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The disclosure for this sale can be found here. In the last three months, insiders sold 417,497 shares of company stock worth $6,732,150. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Rivian Automotive

Several large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in shares of Rivian Automotive by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock valued at $492,000 after buying an additional 604 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after purchasing an additional 670 shares during the last quarter. Laidlaw Wealth Management LLC lifted its holdings in shares of Rivian Automotive by 7.5% in the fourth quarter. Laidlaw Wealth Management LLC now owns 10,263 shares of the electric vehicle automaker’s stock valued at $241,000 after purchasing an additional 718 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Rivian Automotive by 28.0% during the second quarter. GAMMA Investing LLC now owns 3,470 shares of the electric vehicle automaker’s stock valued at $47,000 after buying an additional 760 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Rivian Automotive by 18.3% during the fourth quarter. Quadrant Capital Group LLC now owns 5,191 shares of the electric vehicle automaker’s stock worth $122,000 after buying an additional 802 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

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.