Kantor Fitzgerald Equity Researcher Launches Equity Coverage Rivian Automotive (NASDAQ:RIVN – rated) In a report released Tuesday, The Fly reports. The company has set an “overweight” rating on the electric car maker’s stock.
Other analysts have also recently published research reports on the company. The Royal Bank of Canada lowered its price target for Rivian Automotive from $61.00 to his $50.00, giving it an “outperform” rating, in a report on Thursday, November 10. Canaccord Genuity Group lowered its price target on Rivian Automotive from $61.00 to $55.00 and gave the stock a Buy rating in a report on Thursday, November 10th. Evercore ISI kicked off his Rivian Automotive coverage with a report on Tuesday, November 29th. They issued an “inline” rating and a price target of $35.00. Truist Financial began covering Rivian Automotive in a report on Wednesday, Sept. 28. They issued a ‘Buy’ rating and a price target of $65.00. Finally, Wells Fargo & Company lowered its price target on Rivian Automotive from $35.00 to $32.00 in its report on Thursday, November 10, giving the stock an “equal weight” rating. Two analysts rated the stock with a sell rating, six assigned a hold rating, and 14 analysts issued a buy rating on the company’s stock. Based on MarketBeat data, the company’s consensus rating is currently a “moderate buy” with a consensus price target of 46.30.
Rivian Automotive Trading fell 2.0 %
NASDAQ:RIVN opened on Tuesday at 22.03. The company has a quick ratio of 6.39, a current ratio of 6.84 and a debt to equity ratio of 0.08. His 50-day moving average for business is 30.47 and his 200-day moving average is 31.91. Rivian Automotive’s 52-week low is 19.25 and his 52-week high is 107.49. The company has a market capitalization of $20.29 billion and a PE ratio of -2.12.
Rivian Automotive (NASDAQ:RIVN – Get Rating) announced final results on Wednesday, November 9th. The electric vehicle automaker reported -1.57 EPS for the quarter, beating analysts’ consensus forecast of -1.78 by 0.21. Rivian Automotive’s return on equity was 32.42% and net profit margin was 714.01%. The company’s revenue for the quarter was 536 million, compared to the consensus forecast of 513.89 million. On average, analysts expect Rivian Automotive to post an EPS of -7.46 this year.
Insider activity
In other news, CFO Claire Mcdonough sold 14,235 shares of Rivian Automotive in a deal on Tuesday, November 15th. The shares sold at an average price of 34.92 and the total trading value was her 497,086.20. After the transaction, the Chief Financial Officer now directly owns her 81,151 shares in the company, valued at approximately $2,833,792.92. The sale is disclosed in legal documents to the SEC, which can be accessed on her website. In other news, CAO Jeff Baker sold 1,689 shares in the company on Tuesday, November 15th. The shares were sold at an average price of 34.38 and the total transaction value he was 58,067.82. Following the completion of the sale, the Chief Accounting Officer now directly owns 89,331 shares of the Company’s stock valued at approximately 3,071,199.78. The transaction was disclosed in SEC filings accessible via this hyperlink. CFO Claire Mcdonough also sold 14,235 shares in the company on Tuesday, November 15th. The shares were sold at an average price of 34.92 for a total of 497,086.20. After the sale, the Chief Financial Officer now directly owns 81,151 shares of the company worth 2,833,792.92. Please see here for the disclosure of this sale. 2.34% of the shares are owned by insiders.
Institutional investors consider Rivian Automotive
Several large investors have recently changed their stock holdings. Bank of New York Mellon Corp increased his Rivian Automotive stake by 218.7% in the third quarter. Bank of New York Mellon Corp now owns 1,841,340 shares of the electric car maker worth $60,598,000 after acquiring an additional 1,263,501 shares last quarter. Robeco Institutional Asset Management BV boosted his Rivian Automotive stock position by 31.7% in the third quarter. Robeco Institutional Asset Management BV now owns 43,456 shares in the electric car maker worth $1,430,000 after he purchased an additional 10,463 shares during the period. Gould Capital LLC boosted his Rivian Automotive stock position by 175.4% in the third quarter. Gould Capital LLC owns 785 shares of the electric vehicle manufacturer worth $26,000 after purchasing an additional 500 shares during this period. IHT Wealth Management LLC acquired a new stake in his Rivian Automotive worth $422,000 in the third quarter. Finally, B. Riley Wealth Advisors Inc. boosted his position in Rivian Automotive stocks by 48.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 13,293 shares of the electric vehicle manufacturer worth $438,000 after purchasing an additional 4,330 shares during the period. 62.09% of the shares are owned by institutional investors.
About Rivian Automotive
(get rating)
Rivian Automotive, Inc designs, develops, manufactures and markets electric vehicles and accessories. The company offers five-passenger pickup trucks and sport utility vehicles. Partnering with Amazon.com to offer his Rivian commercial vehicle platform for electric delivery vans. The company sells its products directly to customers in the consumer and commercial markets.
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