Rivian Automotive Target of Unusually Large Options Trading (NASDAQ:RIVN)

Rivian Automotive, Inc. (NASDAQ:RIVN) saw some unusual options trading activity on Thursday. Stock investors purchased 286,674 call options on the company. This is an increase of 46% compared to the typical volume of 196,702 call options.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $11.82, for a total transaction of $844,290.78. Following the transaction, the chief executive officer now owns 853,011 shares of the company’s stock, valued at $10,082,590.02. This trade represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,427 shares of company stock valued at $2,588,475. Corporate insiders own 2.51% of the company’s stock.

Institutional Trading of Rivian Automotive

A number of hedge funds have recently made changes to their positions in the company. Tandem Financial LLC acquired a new stake in Rivian Automotive during the 4th quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new position in Rivian Automotive in the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive during the third quarter valued at about $28,000. Orion Capital Management LLC purchased a new stake in shares of Rivian Automotive during the fourth quarter worth about $34,000. Finally, Bear Mountain Capital Inc. lifted its stake in shares of Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock worth $36,000 after acquiring an additional 1,932 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on RIVN shares. Robert W. Baird restated a “neutral” rating and set a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Rivian Automotive in a report on Tuesday, March 18th. Sanford C. Bernstein initiated coverage on Rivian Automotive in a research note on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price objective on the stock. UBS Group lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, Barclays upped their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.38.

Rivian Automotive Stock Down 4.7 %

Shares of Rivian Automotive stock opened at $12.41 on Friday. The company has a fifty day moving average price of $12.26 and a 200 day moving average price of $12.14. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive has a twelve month low of $8.26 and a twelve month high of $18.86. The stock has a market cap of $14.03 billion, a price-to-earnings ratio of -2.63 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Equities research analysts forecast that Rivian Automotive will post -3.2 earnings per share for the current fiscal year.

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.