Rivian Automotive (NASDAQ:RIVN) Reaches New 52-Week Low Following Analyst Downgrade


Shares of Rivian Automotive (NASDAQ:RIVN – Get Rating) hit a 52-week low during Friday trading after Deutsche Bank Aktiengesellschaft lowered its price target to $28.00 from $43.00. The stock traded at 15.28 and last traded at 15.79 with a trading volume of 28441500 shares. The stock had previously closed at 16.50.

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Many other research analysts have also commented on stocks. Wedbush lowered his price target for Rivian Automotive from $45.00 to $37.00 in his Thursday, November 10 research notes, setting an “outperform” rating. Cantor Fitzgerald began coverage of his Rivian Automotive shares in a research note on Tuesday, Dec. 20. They set an “overweight” rating and a price target of $22.00. Morgan Stanley lowered its price target on Rivian Automotive shares from his $60.00 to his $55.00, giving it an “overweight” rating in its research notes on Monday, Nov. 14. Goldman Sachs Group Inc. lowered its price target for Rivian Automotive to $19.00 from $41.00 in a research note on Tuesday, January 10. Finally, Cfra downgraded his Rivian Automotive stock to a sell rating and set a price target of $25.00. In the study notes on Friday, September 23rd. Two analysts gave a sell rating to the stock, six gave a hold rating, and 12 analysts issued a buy rating to the company’s stock. Based on MarketBeat.com data, the company’s current consensus rating is “moderate buy” with an average target price of 42.67.

insider trading

In related news, CFO Claire Mcdonough sold 14,235 shares in the company in a transaction that took place on Tuesday, November 15th. The shares were sold at an average price of 34.92 and her total was 497,086.20. Following the closing of the transaction, the Chief Financial Officer now owns 81,151 shares of the Company’s stock valued at approximately 2,833,792.92. The deal was disclosed in documents filed with the Securities and Exchange Commission and available on her website at the SEC. In more of her Rivian Automotive news, CFO Claire Mcdonough sold her 14,235 shares of Rivian Automotive stock on Tuesday, November 15th. The shares sold at an average price of 34.92 and the total transaction value was her 497,086.20. Following the closing of the sale, the Chief Financial Officer now owns 81,151 shares of the Company’s stock valued at approximately 2,833,792.92. The sale was disclosed in documents filed with the Securities and Exchange Commission, available at this link. CAO Jeff Baker also sold 1,689 shares of Rivian Automotive stock in a transaction 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. After the sale, the Chief Accounting Officer now directly owns 89,331 shares of the company worth approximately 3,071,199.78. Please see here for the disclosure of this sale. A company insider owns his 2.34% of the company’s shares.

Institutional investors consider Rivian Automotive

Many institutional investors have recently changed their holdings of RIVN. Bartlett & Co. LLC raised his 104.2% stake in Rivian Automotive in the second quarter. Bartlett & Co. LLC now owns 980 shares of the electric car maker worth $25,000 after purchasing an additional 500 shares of him last quarter. Concord Wealth Partners purchased a new stake in his Rivian Automotive worth $25,000 in the second quarter. Gould Capital LLC raised a 175.4% stake in his Rivian Automotive in the third quarter. Gould Capital LLC now owns 785 shares of the electric vehicle maker worth $26,000 after purchasing an additional 500 shares last quarter. Venture Visionary Partners LLC purchased a new stake in his Rivian Automotive worth $27,000 in the second quarter. Finally, Seeyond bought new shares in his Rivian Automotive worth $27,000 in the second quarter. Institutional investors and hedge funds own 67.97% of the company’s shares.

Rivian Automotive shares drop 4.3%

The company has a market cap of $14.54 billion, a P/E of -1.52 and a beta of 1.84. His 50-day moving average price for this business is 23.86 and his 200-day moving average price is 30.23. The company has a current ratio of 6.84, a quick ratio of 6.39 and a debt to equity ratio of 0.08.

Rivian Automotive (NASDAQ:RIVN – Get Rating) last reported quarterly results on Wednesday, November 9th. The electric car maker reported -1.57 earnings per share for the quarter, 0.21 above analysts’ consensus forecast of -1.78. Quarterly earnings for this business he had 536 million, while the consensus estimate was 513.89 million. Rivian Automotive had a net profit margin of 714.01% and a return on equity of 32.42%. As a group, equity research analysts expect Rivian Automotive, Inc. to see his EPS of -7.41 this year.

Company Overview of Rivian Automotive

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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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