Rivian Automotive (NASDAQ:RIVN) Stock Price Up 5.3% – Time to Buy?

Rivian Automotive, Inc. (NASDAQ:RIVN) traded up 5.3% during trading on Monday . The stock traded as high as $13.52 and last traded at $13.00. 46,944,506 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 48,172,448 shares. The stock had previously closed at $12.34.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RIVN. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of Rivian Automotive in a research note on Friday, November 8th. Barclays cut their price target on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Benchmark assumed coverage on Rivian Automotive in a research note on Monday. They set a “buy” rating and a $18.00 price objective for the company. Royal Bank of Canada dropped their target price on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Finally, Stifel Nicolaus reduced their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive presently has an average rating of “Hold” and a consensus target price of $15.83.

Rivian Automotive Trading Down 2.7 %

The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $10.87 and a 200-day moving average price of $12.60. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of -2.51 and a beta of 2.12.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total transaction of $969,996.12. Following the completion of the transaction, the chief executive officer now directly owns 886,526 shares in the company, valued at $10,319,162.64. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 261,307 shares of company stock valued at $3,178,479 over the last 90 days. 2.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive during the third quarter valued at $28,000. GHP Investment Advisors Inc. raised its holdings in Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 1,002 shares during the period. International Assets Investment Management LLC purchased a new stake in Rivian Automotive during the second quarter valued at about $37,000. First Horizon Advisors Inc. boosted its holdings in shares of Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock worth $38,000 after buying an additional 670 shares during the period. Finally, American Capital Advisory LLC increased its position in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after acquiring an additional 2,111 shares in the last quarter. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.