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Rivian Automotive (NASDAQ:RIVN – Get Rating) had its price objective reduced by Piper Sandler from $112.00 to $108.00 in a report released on Thursday, The Fly reports.
Several other analysts also recently weighed in on the stock. Barclays cut their price objective on shares of Rivian Automotive from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 26th. Exane BNP Paribas started coverage on shares of Rivian Automotive in a research report on Monday, April 11th. They set an “underperform” rating and a $35.00 price target on the stock. Mizuho dropped their price target on shares of Rivian Automotive from $95.00 to $90.00 in a research report on Wednesday, April 20th. JPMorgan Chase & Co. dropped their price target on shares of Rivian Automotive from $104.00 to $84.00 in a research report on Wednesday, January 26th. Finally, BNP Paribas started coverage on shares of Rivian Automotive in a research report on Monday, April 11th. They set an “underperform” rating and a $35.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of 81.88.
NASDAQ RIVN opened at 20.60 on Thursday. Rivian Automotive has a one year low of 19.25 and a one year high of 179.47. The firm has a 50-day simple moving average of 39.06. The company has a quick ratio of 13.93, a current ratio of 14.14 and a debt-to-equity ratio of 0.06.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last posted its quarterly earnings results on Wednesday, May 11th. The electric vehicle automaker reported -1.43 EPS for the quarter, beating the consensus estimate of -1.46 by 0.03. Equities analysts forecast that Rivian Automotive will post -6.37 EPS for the current year.
In other news, major shareholder Motor Co Ford sold 8,000,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of 26.80, for a total transaction of 214,400,000.00. Following the sale, the insider now owns 93,947,494 shares in the company, valued at 2,517,792,839.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds have recently added to or reduced their stakes in the company. Amazon com Inc acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $16,420,746,000. Coatue Management LLC acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $3,652,616,000. BlackRock Inc. acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $3,195,595,000. Capital Research Global Investors acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $2,562,520,000. Finally, Soros Fund Management LLC acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $2,056,770,000. Institutional investors and hedge funds own 78.67% of the company’s stock.
Rivian Automotive Company Profile (Get Rating)
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
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