Rivian Automotive (RIVN) Expected to Announce Quarterly Earnings on Thursday

Rivian Automotive (NASDAQ:RIVN) will likely be issuing its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of ($0.69) per share and revenue of $1.43 billion for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Rivian Automotive Price Performance

NASDAQ:RIVN opened at $14.44 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a market cap of $14.74 billion, a price-to-earnings ratio of -2.58 and a beta of 2.04. The company has a 50 day moving average price of $13.59 and a 200-day moving average price of $12.52. Rivian Automotive has a 1-year low of $8.26 and a 1-year high of $18.85.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RIVN shares. Truist Financial lifted their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Benchmark started coverage on shares of Rivian Automotive in a report on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Rivian Automotive in a report on Monday, January 6th. Finally, Baird R W lowered shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.13.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 8,097 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total transaction of $98,783.40. Following the transaction, the chief financial officer now directly owns 370,401 shares in the company, valued at approximately $4,518,892.20. The trade was a 2.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 359,932 shares of company stock valued at $4,926,664 in the last 90 days. 2.51% of the stock is owned by insiders.

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.