Rivian Automotive, Inc. (NASDAQ:RIVN) Holdings Lowered by EMC Capital Management

EMC Capital Management cut its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 82.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the electric vehicle automaker’s stock after selling 23,206 shares during the period. EMC Capital Management’s holdings in Rivian Automotive were worth $67,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. John G Ullman & Associates Inc. lifted its position in shares of Rivian Automotive by 9.1% in the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock valued at $135,000 after acquiring an additional 1,000 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after buying an additional 1,002 shares during the last quarter. Tradition Wealth Management LLC lifted its holdings in Rivian Automotive by 11.9% in the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock worth $132,000 after purchasing an additional 1,250 shares during the last quarter. Blue Trust Inc. boosted its position in Rivian Automotive by 40.3% during the third quarter. Blue Trust Inc. now owns 4,531 shares of the electric vehicle automaker’s stock worth $51,000 after purchasing an additional 1,301 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Rivian Automotive by 40.4% during the third quarter. GAMMA Investing LLC now owns 4,871 shares of the electric vehicle automaker’s stock valued at $55,000 after acquiring an additional 1,401 shares during the period. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

Shares of NASDAQ:RIVN opened at $12.56 on Friday. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The company has a market cap of $12.82 billion, a price-to-earnings ratio of -2.24 and a beta of 2.05. The firm has a 50 day simple moving average of $13.44 and a 200 day simple moving average of $12.86.

Insider Activity

In related news, CEO Robert J. Scaringe sold 35,713 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,879,847.36. This represents a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 363,142 shares of company stock worth $4,958,860. Insiders own 2.51% of the company’s stock.

Wall Street Analysts Forecast Growth

RIVN has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Bank of America lowered Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $13.00 in a research note on Friday, November 8th. Stifel Nicolaus cut their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Truist Financial upped their price objective on Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Piper Sandler cut their price target on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Two research 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.13.

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.