Rivian Automotive (NASDAQ:RIVN) received an average rating of “Moderate Buy” from analysts
Shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Get Free Report) has an average rating of “Moderate Buy” from twenty-one brokerage firms currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average one-year price target among brokers that have issued a report on the stock in the last year is $28.95.
RIVN has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on Rivian Automotive from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Truist Financial raised their price target on Rivian Automotive from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Royal Bank of Canada raised their price objective on Rivian Automotive from $14.00 to $15.00 and gave the stock an “sector perform” rating in a report on Wednesday, August 9th. Canaccord Genuity Group raised their target price on Rivian Automotive from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 target price on shares of Rivian Automotive in a research report on Thursday, August 24th.
View our latest stock analysis on RIVN
Rivian car price performance
RIVN shares opened at $24.18 on Friday. The company has a market capitalization of $22.93 billion, a price-to-earnings ratio of -3.74 and a beta of 2.13. Rivian Automotive has a 52-week low of $11.68 and a 52-week high of $39.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.66 and a quick ratio of 4.71. The company’s 50 day moving average is $23.66 and its 200 day moving average is $17.68.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The electric car maker reported ($1.08) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.34. Rivian Automotive had a negative return on equity of 38.91% and a negative net margin of 200.97%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter a year earlier, the company reported earnings per share ($1.89). The company’s revenue increased by 208.0% year over year. Equity research analysts expect Rivian Automotive to post -5.89 earnings per share for the current fiscal year.
Institutional inflows and outflows
A number of major investors have recently modified their holdings in the company. Fifth Third Bancorp raised its stake in shares of Rivian Automotive by 0.9% in the second quarter. Fifth Third Bancorp now owns 45,078 shares of the electric automaker’s stock worth $751,000 after purchasing an additional 400 shares in the last quarter. Eaton Vance Management raised its stake in shares of Rivian Automotive by 6.8% in the first quarter. Eaton Vance Management now owns 7,843 shares of the electric automaker’s stock worth $394,000 after purchasing an additional 497 shares in the last quarter. Gould Capital LLC raised its stake in shares of Rivian Automotive by 32.6% in the second quarter. Gould Capital LLC now owns 2,035 shares of the electric automaker’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. DA Davidson & CO. Increasing its stake in Rivian Automotive shares by 9.1% in the first quarter. Owned by DA Davidson & CO. 6,176 shares of the electric automaker’s stock are now worth $310,000 after purchasing an additional 515 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Rivian Automotive by 1.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 35,904 shares of the electric automaker’s stock worth $662,000 after purchasing an additional 577 shares in the last quarter. 62.79% of the stock is currently owned by institutional investors and hedge funds.
About Rivian Automotive Company
(Get a free report
Rivian Automotive designs, develops, manufactures and sells electric vehicles and accessories. The company offers five-passenger minivans and seven-passenger sport utility vehicles. Rivian’s commercial vehicle platform provides electric delivery vehicles in collaboration with Amazon.com, Inc. The company sells its products directly to customers in the consumer and commercial markets.
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