Norden Group LLC bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,012 shares of the electric vehicle automaker’s stock, valued at approximately $132,000.
A number of other institutional investors have also recently modified their holdings of the business. Bear Mountain Capital Inc. purchased a new position in Rivian Automotive during the fourth quarter worth approximately $26,000. Principal Securities Inc. acquired a new stake in Rivian Automotive in the 4th quarter valued at $33,000. Benjamin Edwards Inc. purchased a new stake in Rivian Automotive in the 1st quarter worth $33,000. Arlington Trust Co LLC acquired a new position in Rivian Automotive during the fourth quarter worth $35,000. Finally, Fairman Group LLC purchased a new position in Rivian Automotive during the fourth quarter valued at $36,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on RIVN. JPMorgan Chase & Co. upped their price target on shares of Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 26th. UBS Group raised their target price on Rivian Automotive from $10.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Mizuho boosted their price target on Rivian Automotive from $11.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday. DA Davidson raised their price objective on Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Finally, Truist Financial upped their target price on shares of Rivian Automotive from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Rivian Automotive currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.21.
Read Our Latest Research Report on Rivian Automotive
Insider Buying and Selling
In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $14.97, for a total value of $1,069,292.13. Following the completion of the sale, the chief executive officer now owns 909,691 shares in the company, valued at $13,618,074.27. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 214,287 shares of company stock worth $2,693,588 in the last quarter. 2.30% of the stock is owned by insiders.
Rivian Automotive Stock Up 8.1 %
RIVN stock opened at $18.11 on Monday. The stock has a market cap of $18.03 billion, a P/E ratio of -3.14 and a beta of 2.08. The company has a current ratio of 4.71, a quick ratio of 3.55 and a debt-to-equity ratio of 0.55. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $28.06. The company’s 50 day moving average is $11.96 and its two-hundred day moving average is $12.89.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.03). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. Research analysts expect that Rivian Automotive, Inc. will post -4.87 earnings per share for the current fiscal year.
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.
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