Entropy Technologies LP Makes New $1.32 Million Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Entropy Technologies LP acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 98,995 shares of the electric vehicle automaker’s stock, valued at approximately $1,317,000.

Other large investors also recently modified their holdings of the company. Tandem Financial LLC bought a new stake in Rivian Automotive during the fourth quarter valued at $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive during the 3rd quarter valued at about $28,000. GHP Investment Advisors Inc. grew its stake in Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 1,002 shares during the period. American Capital Advisory LLC increased its holdings in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after buying an additional 2,900 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RIVN. Stifel Nicolaus lowered their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Royal Bank of Canada dropped their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Barclays increased their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Finally, Needham & Company LLC reduced their price objective on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive has an average rating of “Hold” and a consensus price target of $15.13.

Insider Activity

In related news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares in the company, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,784,877.65. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 363,142 shares of company stock valued at $4,958,860 in the last ninety days. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Stock Performance

Shares of RIVN opened at $12.99 on Tuesday. The stock has a 50 day moving average of $13.53 and a 200 day moving average of $12.62. The company has a market capitalization of $13.26 billion, a price-to-earnings ratio of -2.32 and a beta of 2.04. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

About Rivian Automotive

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