Rivian Automotive (RIVN) – Recent Analyst Rating Changes

Several brokerages have updated their recommendations and price targets on the stock Rivian Automotive (NASDAQ: RIVN) in recent weeks:

• 08/19/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 target price on the stock.
• 08/16/2024 – Rivian Automotive had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $15.00 target price on the stock.
• 08/07/2024 – Rivian Automotive had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $20.00 target price on the stock.
• 8/7/2024 – Rivian Automotive had its price target lowered by analysts at UBS Group AG from $17.00 to $16.00. They now have a “neutral” rating on the stock.
• 08/07/2024 – Rivian Automotive had its price target lowered by analysts at Wells Fargo & Company from $18.00 to $15.00. They now have an “equal weight” rating on the stock.
• 8/7/2024 – Rivian Automotive had its price target lowered by analysts at Needham & Company LLC from $20.00 to $18.00. They now have a “buy” rating on the stock.
• 08/05/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 target price on the stock.
• 8/2/2024 – Rivian Automotive had its price target raised by analysts at Truist Financial Co. from $13.00 to $16.00. They now have a “hold” rating on the stock.
• 07/22/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 target price on the stock.
• 7/18/2024 – Rivian Automotive had its price target raised by analysts at Wells Fargo & Company from $10.00 to $18.00. They now have an “equal weight” rating on the stock.
• 7/17/2024 – Rivian Automotive had its price target raised by analysts at Morgan Stanley from $13.00 to $17.00. They now have an “overweight” rating on the stock.
• 7/16/2024 – Rivian Automotive had its price target raised by analysts at Barclays PLC from $14.00 to $16.00. They now have an “equal weight” rating on the stock.
• 07/15/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $19.00 target price on the stock.
• 7/12/2024 – Rivian Automotive had its price target raised by analysts at Mizuho from $11.00 to $15.00. They now have a “neutral” rating on the stock.
• 07/01/2024 – Rivian Automotive had its price target raised by analysts at Royal Bank of Canada from $11.00 to $14.00. They now have a “sector perform” rating on the stock.
• 7/1/2024 – Rivian Automotive had its price target raised by analysts at The Goldman Sachs Group, Inc. from $11.00 to $14.00. They now have a “neutral” rating on the stock.
• 7/1/2024 – Rivian Automotive had its price target raised by analysts at Barclays PLC from $10.00 to $14.00. They now have an “equal weight” rating on the stock.
• 7/1/2024 – Rivian Automotive had its price target raised by analysts at Canaccord Genuity Group Inc. from $20.00 to $30.00. They now have a “buy” rating on the stock.
• 6/28/2024 – Rivian Automotive had its price target raised by analysts at DA Davidson from $12.00 to $13.00. They now have a “neutral” rating on the stock.
• 6/28/2024 – Rivian Automotive had its price target raised by analysts at UBS Group AG from $10.00 to $17.00. They now have a “neutral” rating on the stock.
• 6/28/2024 – Rivian Automotive had its price target raised by analysts at Needham & Company LLC from $13.00 to $20.00. They now have a “buy” rating on the stock.
• 06/26/2024 – Rivian Automotive had its price target raised by analysts at JPMorgan Chase & Co. from $10.00 to $14.00. They now have an “underweight” rating on the stock.
• 06/26/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $13.00 target price on the stock.
• 06/26/2024 – Rivian Automotive had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $21.00 target price on the stock.
• 6/26/2024 – Rivian Automotive had its price target raised by analysts at Cantor Fitzgerald from $15.00 to $19.00. They now have an “overweight” rating on the stock.
• 6/26/2024 – Rivian Automotive had its price target raised by analysts at Wedbush from $15.00 to $20.00. They now have an “outperform” rating on the stock.
• 06/26/2024 – Rivian Automotive had its price target raised by analysts at Truist Financial Co. from $10.00 to $13.00. They now have a “hold” rating on the stock.
• 06/25/2024 – Rivian Automotive is now covered by analysts at Guggenheim. They set a “buy” rating and a $18.00 price target on the stock.

Rivian Automotive trading down 2.0%

NASDAQ RIVN opened at $12.81 on Friday. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.87. The stock has a market cap of $12.92 billion, a P/E ratio of -2.22 and a beta of 2.09. The company’s 50-day moving average is $14.51, and its two-hundred-day moving average is $12.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25, and a quick ratio of 4.01.

Insider trading at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the sale, the chief financial officer now directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. The transaction was disclosed in a filing with the SEC, which is available via this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.49, for a total transaction of $820,719.21. Following the completion of the transaction, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $10,452,349.59. The disclosure for this sale can be found here. Insiders have sold a total of 488,926 shares of company stock worth $7,552,869 over the last ninety days. Company insiders hold 2.30% of the company’s shares.

Institutional investors weigh in on Rivian Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers boosted its holdings in shares of Rivian Automotive by 9.5% during the second quarter. Cetera Investment Advisers now owns 210,381 shares of the electric vehicle maker’s stock worth $2,823,000 after purchasing an additional 18,243 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Rivian Automotive by 149.5% in the second quarter. B. Riley Wealth Advisors Inc. now owns 52,117 shares of the electric vehicle maker’s stock worth $699,000 after purchasing an additional 31,232 shares during the last quarter. Regal Investment Advisors LLC grew its position in Rivian Automotive by 7.0% in the second quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle maker’s stock worth $262,000 after buying an additional 1,281 shares during the period. Quarry LP purchased a new stake in Rivian Automotive in the second quarter valued at approximately $105,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Rivian Automotive in the second quarter valued at approximately $9,388,000. Institutional investors and hedge funds own 66.25% of the company’s shares.

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures and sells electric vehicles and accessories. The company offers utility 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.

Further reading

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