Rivian Automotive (RIVN:NSD), an electric vehicle manufacturer, will release its quarterly earnings report on February 28 after the market closes. Analysts anticipate that the business will announce quarterly earnings of ($1.72) per share.
Rivian Stock Price Performance:
Recent stock performance for the corporation has been less than outstanding. On February 21st, Rivian stock opened on NASDAQ at $20.22 per share. The company’s P/E ratio is -1.95, and its beta is 1.87. The market capitalization of the stock is $18.62 billion, its quick ratio is 6.39, its current ratio is 6.84, and its debt-to-equity ratio is 0.08. The 50-day moving average price for the company is $19.07, while the 200-day moving average price is $28.24. The 12-month low for Rivian Automotive is $15.28 and the 12-month high is $69.10.
Rivian Stock Forecast-Analyst Ratings:
Analysts on Wall Street anticipate growth for Rivian Automotive. Yet, some have decreased their price objectives for the company. On November 10th, Wells Fargo & Company lowered its price objective for the stock from $35.00 to $32.00 and issued it a “equal weight” rating.
On January 10th, Goldman Sachs Group decreased their price target from $41.00 to $19.00.
Barclays, on the other hand, just initiated coverage of Rivian Automotive with a “overweight” rating and $28.00 price target.
Both Truist Financial and Royal Bank of Canada have decreased their price targets for Rivian Automotive to $50.00 while maintaining their respective “buy” and “outperforming” recommendations. The consensus rating for the company on Stock Target Advisor is “Strong Buy,” with a projected price target of $40.85.
Claire Mcdonough, chief financial officer, and Jeff Baker, chief operating officer, both sold shares of Rivian Automotive on February 15. Baker sold 2,331 shares for $44,244.38 while Mcdonough sold 2,090 shares for $36,89.10. The company’s SEC filing reveals that both executives continue to possess substantial numbers of shares. Insiders hold 2.34% of the company’s shares.
Hedge Funds & Institutional Holdings:
A number of hedge funds and institutional investors have lately purchased and sold shares of Rivian Automotive. During the first quarter, Eaton Vance Management boosted its position in Rivian Automotive by 6.8%, while D.A. Davidson & CO. increased its holdings by 9.0%. The holdings of Nissay Asset Management Corp Japan ADV and Salem Investment Counselors Inc. grew by 1.6% and 1,329.5%, respectively. In the fourth quarter, Loring Wolcott & Coolidge Fiduciary Advisers LLP MA increased its stake in Rivian Automotive stock by 14.1%.
Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles.
It provides Rivian Commercial Vehicle platform for electric Delivery Van in collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets. Rivian Automotive, Inc. was founded in 2009 and is based in San Jose, California.