view original post

Rivian Automotive (NASDAQ:RIVNGet Rating) released its quarterly earnings results on Wednesday. The electric vehicle automaker reported -1.43 earnings per share for the quarter, topping the consensus estimate of -1.46 by 0.03, Fidelity Earnings reports.

Shares of Rivian Automotive stock traded up 2.52 on Friday, reaching 26.82. The stock had a trading volume of 700,425 shares, compared to its average volume of 19,867,736. The stock’s 50 day moving average price is 38.59. The company has a current ratio of 14.14, a quick ratio of 13.93 and a debt-to-equity ratio of 0.06. Rivian Automotive has a 1 year low of 19.25 and a 1 year high of 179.47.

A number of equities research analysts have weighed in on the stock. Exane BNP Paribas raised shares of Rivian Automotive from an “underperform” rating to a “neutral” rating in a report on Thursday. Wolfe Research lowered their target price on Rivian Automotive from $130.00 to $78.00 and set an “outperform” rating for the company in a research report on Friday, March 11th. Barclays cut their price objective on Rivian Automotive from $38.00 to $24.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Rivian Automotive from $90.00 to $69.00 in a report on Friday. Finally, Robert W. Baird lowered their price objective on Rivian Automotive from $84.00 to $67.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of 74.59.

In other Rivian Automotive news, major shareholder Motor Co Ford sold 8,000,000 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of 26.80, for a total value of 214,400,000.00. Following the sale, the insider now directly owns 93,947,494 shares in the company, valued at approximately 2,517,792,839.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of large investors have recently made changes to their positions in the stock. Jaffetilchin Investment Partners LLC purchased a new stake in Rivian Automotive during the fourth quarter valued at about $319,000. D.A. Davidson & CO. grew its stake in shares of Rivian Automotive by 9.1% during the first quarter. D.A. Davidson & CO. now owns 6,176 shares of the electric vehicle automaker’s stock valued at $310,000 after buying an additional 515 shares during the last quarter. Brighton Jones LLC lifted its position in Rivian Automotive by 63.5% in the first quarter. Brighton Jones LLC now owns 5,334 shares of the electric vehicle automaker’s stock valued at $268,000 after purchasing an additional 2,072 shares during the last quarter. Millennium Management LLC bought a new position in shares of Rivian Automotive in the fourth quarter worth approximately $245,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Rivian Automotive in the fourth quarter worth $242,000. Institutional investors 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.

Read More

Want More Great Investing Ideas?

Receive News & Ratings for Rivian Automotive Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Rivian Automotive and related companies with MarketBeat.com’s FREE daily email newsletter.