Research analysts at Evercore ISI began coverage on the stock Rivian Automotive (NASDAQ:RIVN – Get Rating) in a report released on Tuesday, reports The Fly. The brokerage set a $35.00 target price on the electric vehicle maker’s stock.
Several other equities analysts have also issued reports on the company. Needham & Company LLC initiated coverage on Rivian Automotive in a research note on Wednesday, September 14th. They set a “hold” rating on the stock. Mizuho cut their price target on Rivian Automotive from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Wedbush decreased their price objective on Rivian Automotive from $45.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. Deutsche Bank Aktiengesellschaft cut their price target on Rivian Automotive from $44.00 to $43.00 in a research note on Thursday, November 10th. Finally, Royal Bank of Canada decreased their price objective on Rivian Automotive from $61.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday. November 10. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of 57.91.
Rivian Automotive stock performance
Shares of RIVN stock traded up 0.24 during trading hours on Tuesday, hitting 28.88. 249,590 shares of the company’s stock traded hands, compared to its average volume of 18,034,818. The stock has a market cap of $26.60 billion and a P/E ratio of -2.78. The company has a quick ratio of 6.39, a current ratio of 6.84, and a debt-to-equity ratio of 0.08. Rivian Automotive has a fifty-two week low of 19.25 and a fifty-two week high of 126.75. The company has a fifty day moving average price of 32.54 and a 200 day moving average price of 31.94.
Insider buying and selling
In related news, CAO Jeff Baker sold 1,689 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of 34.38, for a total transaction of 58,067.82. Following the transaction, the chief accounting officer now owns 89,331 shares of the company’s stock, valued at $3,071,199.78. The transaction was disclosed in a filing with the SEC, which is accessible via this link. In other Rivian Automotive news, CAO Jeff Baker sold 1,689 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of 34.38, for a total value of 58,067.82. Following the completion of the sale, the chief accounting officer now directly owns 89,331 shares of the company’s stock, valued at approximately $3,071,199.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, CFO Claire Mcdonough sold 14,235 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total transaction of 497,086.20. Following the sale, the chief financial officer now directly owns 81,151 shares of the company’s stock, valued at $2,833,792.92. The disclosure for this sale can be found here. 2.34% of shares are currently owned by company insiders.
Institutional investors weigh in on Rivian Automotive
A number of institutional investors have recently modified their holdings of RIVN. TCTC Holdings LLC bought a new position in shares of Rivian Automotive in the first quarter valued at about $25,000. Bartlett & Co. LLC raised its stake in Rivian Automotive by 104.2% in the second quarter. Bartlett & Co. LLC now owns 980 shares of the electric vehicle maker’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Concord Wealth Partners bought a new stake in Rivian Automotive in the second quarter valued at $25,000. Gould Capital LLC boosted its holdings in Rivian Automotive by 175.4% in the third quarter. Gould Capital LLC now owns 785 shares of the electric vehicle maker’s stock valued at $26,000 after purchasing an additional 500 shares during the period. Finally, Venture Visionary Partners LLC bought a new position in shares of Rivian Automotive during the second quarter valued at about $27,000. Institutional investors own 62.09% of the company’s shares.
Rivian Automotive Company Profile
Rivian Automotive, Inc designs, develops, manufactures and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sport utility vehicles. Offers Rivian Commercial Vehicle platform for electric delivery van in collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
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