Rivian Automotive (NASDAQ:RIVN – Get Free Report) had its price target increased by Mizuho from $27.00 to $30.00 in a note issued to investors on Wednesday, FlyOnTheWall reports. Mizuho’s price objective indicates a potential upside of 16.23% from the stock’s previous close.

RIVN has been the topic of several other reports. Piper Sandler reduced their price objective on Rivian Automotive from $15.00 to $14.00 in a research note on Wednesday, May 10th. Truist Financial cut their price objective on shares of Rivian Automotive from $44.00 to $28.00 in a report on Tuesday, May 9th. Needham & Company LLC lifted their target price on shares of Rivian Automotive from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, July 5th. DA Davidson raised shares of Rivian Automotive from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $11.00 to $18.00 in a research report on Wednesday, July 5th. Finally, Wedbush lifted their price objective on shares of Rivian Automotive from $25.00 to $30.00 in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Rivian Automotive has an average rating of “Moderate Buy” and an average price target of $27.11.

Rivian Automotive Stock Up 3.9 %

Shares of NASDAQ:RIVN opened at $25.81 on Wednesday. The firm has a fifty day moving average price of $17.00 and a two-hundred day moving average price of $16.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.88 and a quick ratio of 5.08. Rivian Automotive has a one year low of $11.68 and a one year high of $40.86. The company has a market cap of $24.24 billion, a price-to-earnings ratio of -3.64 and a beta of 1.80.

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Rivian Automotive (NASDAQ:RIVN – Get Free Report) last posted its quarterly earnings results on Tuesday, May 9th. The electric vehicle automaker reported ($1.25) EPS for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.26. The firm had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $661.97 million. Rivian Automotive had a negative net margin of 292.63% and a negative return on equity of 40.23%. The business’s revenue for the quarter was up 595.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.43) earnings per share. Analysts anticipate that Rivian Automotive will post -5.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jeff Baker sold 30,798 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $14.70, for a total value of $452,730.60. Following the completion of the transaction, the chief accounting officer now directly owns 106,204 shares of the company’s stock, valued at $1,561,198.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Claire Mcdonough sold 3,625 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $13.71, for a total value of $49,698.75. Following the sale, the chief financial officer now directly owns 72,304 shares in the company, valued at $991,287.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, CAO Jeff Baker sold 30,798 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $14.70, for a total value of $452,730.60. Following the transaction, the chief accounting officer now directly owns 106,204 shares in the company, valued at $1,561,198.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,423 shares of company stock worth $793,029. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of large investors have recently modified their holdings of the business. The Arizona State Retirement System lifted its position in Rivian Automotive by 2.0% in the fourth quarter. Arizona State Retirement System now owns 86,626 shares of the electric vehicle automaker’s stock valued at $1,597,000 after purchasing an additional 1,683 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Rivian Automotive by 9.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 228,063 shares of the electric vehicle automaker’s stock worth $3,955,000 after purchasing an additional 19,381 shares during the period. SouthState Corp purchased a new stake in shares of Rivian Automotive in the fourth quarter worth $37,000. ARGI Investment Services LLC lifted its holdings in shares of Rivian Automotive by 8.2% during the fourth quarter. ARGI Investment Services LLC now owns 11,201 shares of the electric vehicle automaker’s stock valued at $206,000 after purchasing an additional 846 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Rivian Automotive by 5.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,051,168 shares of the electric vehicle automaker’s stock worth $19,373,000 after buying an additional 52,515 shares in the last quarter. Institutional investors own 62.04% of the company’s stock.

Rivian Automotive Company Profile

(Get Free Report)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides a Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc. The company sells its products directly to customers in the consumer and commercial markets.

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Analyst Recommendations for Rivian Automotive (NASDAQ:RIVN)

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