Rivian Automotive (NASDAQ:RIVN – Get Rating) had its price objective dropped by research analysts at Mizuho from $90.00 to $80.00 in a research report issued on Thursday, The Fly reports.
A number of other research analysts also recently weighed in on the company. Piper Sandler cut their price target on Rivian Automotive from $112.00 to $108.00 in a research note on Thursday. Wedbush cut their price target on Rivian Automotive from $130.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, March 11th. JPMorgan Chase & Co. lowered their price objective on shares of Rivian Automotive from $104.00 to $84.00 in a research report on Wednesday, January 26th. Robert W. Baird lowered their price objective on shares of Rivian Automotive from $84.00 to $67.00 in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of Rivian Automotive from $40.00 to $24.00 in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of 78.53.
NASDAQ:RIVN opened at 20.60 on Thursday. The stock’s fifty day moving average price is 39.06. Rivian Automotive has a 52-week low of 19.25 and a 52-week high of 179.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 13.93 and a current ratio of 14.14.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last posted its quarterly earnings data on Wednesday, May 11th. The electric vehicle automaker reported -1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of -1.46 by 0.03. On average, analysts expect that Rivian Automotive will post -6.37 earnings per share for the current year.
In other news, major shareholder Motor Co Ford sold 8,000,000 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of 26.80, for a total transaction of 214,400,000.00. Following the completion of the transaction, the insider now directly owns 93,947,494 shares in the company, valued at approximately 2,517,792,839.20. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several institutional investors have recently bought and sold shares of RIVN. Amazon com Inc acquired a new stake in Rivian Automotive in the 4th quarter valued at about $16,420,746,000. Coatue Management LLC acquired a new stake in Rivian Automotive in the 4th quarter valued at about $3,652,616,000. BlackRock Inc. acquired a new stake in Rivian Automotive in the 4th quarter valued at about $3,195,595,000. Capital Research Global Investors acquired a new stake in Rivian Automotive in the 4th quarter valued at about $2,562,520,000. Finally, Soros Fund Management LLC acquired a new stake in Rivian Automotive in the 4th quarter valued at about $2,056,770,000. Institutional investors own 78.67% of the company’s stock.
About Rivian Automotive (Get Rating)
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 with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
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