Rivian Automotive (NASDAQ:RIVN) Stock Price Down 1.6% – Time to Sell?

Rivian Automotive, Inc. (NASDAQ:RIVN)’s share price was down 1.6% on Monday . The company traded as low as $14.19 and last traded at $14.21. 64,966,337 shares traded hands during trading, an increase of 93% from the average session volume of 33,747,016 shares. The stock had previously closed at $14.44.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group cut their price target on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, October 7th. UBS Group boosted their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price target on shares of Rivian Automotive in a report on Monday, January 6th. Benchmark started coverage on shares of Rivian Automotive in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Guggenheim reduced their price target on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Rivian Automotive currently has an average rating of “Hold” and an average price target of $15.48.

Rivian Automotive Trading Down 6.5 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The business’s 50-day moving average is $13.08 and its two-hundred day moving average is $13.04.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,429 shares of company stock worth $4,467,450 in the last ninety days. Insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RIVN. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive during the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. increased its position in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares during the last quarter. American Capital Advisory LLC raised its stake in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Rivian Automotive in the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors 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.