Rivian Automotive (NASDAQ:RIVN) Stock Price Up 3.6% – What’s Next?

On December 26, 2024, Rivian Automotive, Inc. (NASDAQ:RIVN) saw an increase in its stock price by 3.6%, trading at $14.25. During the trading session, around 9 million shares exchanged hands, which is a significant drop of 77% from its average daily volume of nearly 40 million shares. The stock had previously closed at $13.75.

Analyst Opinions

Several analysts have provided their insights on Rivian Automotive's stock. Barclays recently reduced their price target for Rivian from $16.00 to $13.00, maintaining an "equal weight" rating as of October 15th. On the other hand, Goldman Sachs increased their price target from $10.00 to $12.00, rating the stock as "neutral" in their report on November 14th. Furthermore, Robert W. Baird reaffirmed a "neutral" rating with a target price of $16.00, down from $18.00, while Stifel Nicolaus lowered their target from $18.00 to $16.00 and gave a "buy" rating. Royal Bank of Canada set a new price target of $12.00 from an earlier $14.00, assigning a "sector perform" rating. Currently, one analyst rates the stock as a sell, fourteen suggest holding, and ten recommend buying, leading to a consensus rating of "Hold" with a price target of around $15.74 according to MarketBeat.

Stock Performance Metrics

Rivian Automotive’s 50-day moving average is $11.59, while its 200-day moving average stands at $12.81. The company has a market capitalization of about $14.35 billion. Key financial ratios include a debt-to-equity ratio of 0.93, a current ratio of 5.09, and a quick ratio of 3.70. The company currently has a P/E ratio of -2.51 with a beta of 2.12.

Insider Transactions

In recent insider transactions, CEO Robert J. Scaringe sold 83,334 shares on November 25, at an average price of $11.25, totaling approximately $937,507.50. Following this transaction, he retained ownership of 863,361 shares valued at around $9.71 million, marking an 8.80% decrease in his position. Similarly, CFO Claire McDonough sold 18,501 shares on December 16 at an average price of $15.00, generating a total of $277,515.00, which represents a 4.99% decrease in her ownership. In total, within the last 90 days, insiders sold 184,571 shares worth about $2.32 million, and insiders collectively hold 2.51% of the company’s stocks.

Institutional Investor Activity

Recent activities from institutional investors show some shifts in holdings. For instance, Wilmington Savings Fund Society FSB acquired a new stake valued at around $28,000 in the third quarter. GHP Investment Advisors Inc. increased their position by 63.2%, now owning 2,588 shares worth approximately $29,000 after purchasing additional shares. American Capital Advisory LLC raised their holdings by 267.6%, increasing to 2,900 shares valued at $33,000. Hantz Financial Services Inc. notably boosted their position by an impressive 2,636.4%, now holding 3,010 shares worth $34,000. Meanwhile, International Assets Investment Management LLC made a new stake valued at $37,000 during the second quarter. Currently, institutional investors own about 66.25% of Rivian’s stocks.

Company Overview

Rivian Automotive, Inc. is engaged in the design, development, manufacturing, and selling of electric vehicles and related accessories. Their product lineup features consumer vehicles, including a two-row, five-passenger pickup truck branded as R1T, and a three-row, seven-passenger SUV under the R1S name.

Rivian, Stock, Analysis