Rivian Automotive (NASDAQ:RIVN) Trading Down 2% – Here’s Why
by Scott Moore · The Cerbat GemRivian Automotive, Inc. (NASDAQ:RIVN – Get Free Report)’s stock price traded down 2% during trading on Thursday . The company traded as low as $14.12 and last traded at $14.1930. 25,805,763 shares traded hands during trading, a decline of 12% from the average session volume of 29,322,902 shares. The stock had previously closed at $14.48.
More Rivian Automotive News
Here are the key news stories impacting Rivian Automotive this week:
- Positive Sentiment: Large commercial demand: Uber has ordered 10,000 autonomous vehicles from Rivian as part of a broader robotaxi push, which could create long-term volume and revenue visibility if production and AV integration scale successfully. Uber’s Robotaxi And Parking Bets Recast Growth And Risk For Investors
- Positive Sentiment: Strategic capital and partnership: Volkswagen has become Rivian’s top shareholder and will expand its stake under a $5.8B joint venture, providing cash, industrial scale and potential distribution/engineering support. Volkswagen becomes Rivian’s top shareholder, displacing Amazon
- Positive Sentiment: Market expansion via R2 variants: Rivian is developing multiple R2 variants aimed at lower price points to broaden its addressable market and boost volume — a key growth lever if margins and supply match the plan. Exclusive: Rivian developing variants of its more affordable R2 EVs
- Neutral Sentiment: Macro/indirect positives: Analysts note that a SpaceX IPO could free up capital and investor appetite for EV/tech names, an indirect bullish narrative for Rivian but not an immediate driver of fundamentals. Here’s Why the SpaceX IPO Makes Rivian Stock a Buy
- Negative Sentiment: Execution and supply risks: Rivian is considering building its own lidar (possibly with Chinese partners), which could lower component costs but raises execution, quality and geopolitical/regulatory risk that could weigh on investor sentiment. Rivian mulls making its own lidar sensors, possibly in partnership with Chinese firms
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Rivian Automotive from a “hold” rating to a “buy” rating and raised their target price for the company from $16.00 to $23.00 in a research report on Friday, February 13th. Wedbush restated an “outperform” rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, February 13th. BNP Paribas Exane restated an “outperform” rating and set a $22.00 target price (down from $23.00) on shares of Rivian Automotive in a research report on Friday, May 1st. Wolfe Research cut Rivian Automotive from a “peer perform” rating to an “underperform” rating in a research report on Monday, January 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Rivian Automotive in a report on Monday, April 6th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.52.
Read Our Latest Stock Report on RIVN
Rivian Automotive Trading Down 2.0%
The stock has a market cap of $17.61 billion, a PE ratio of -4.86 and a beta of 1.64. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. The company’s 50-day moving average price is $15.69 and its 200 day moving average price is $16.24.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.14. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The business’s revenue for the quarter was down 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.70) EPS. On average, sell-side analysts forecast that Rivian Automotive, Inc. will post -3.01 EPS for the current fiscal year.
Insider Activity at Rivian Automotive
In related news, CEO Robert J. Scaringe sold 21,446 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $16.17, for a total value of $346,781.82. Following the completion of the sale, the chief executive officer owned 1,001,138 shares in the company, valued at approximately $16,188,401.46. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of Rivian Automotive stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $18.00, for a total transaction of $184,410.00. Following the completion of the sale, the chief financial officer owned 946,814 shares of the company’s stock, valued at $17,042,652. This trade represents a 1.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 148,888 shares of company stock worth $2,411,276. Corporate insiders own 2.16% of the company’s stock.
Institutional Trading of Rivian Automotive
Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of Rivian Automotive by 28.0% in the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker’s stock worth $235,000 after acquiring an additional 3,864 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Rivian Automotive by 1.5% in the first quarter. AQR Capital Management LLC now owns 386,384 shares of the electric vehicle automaker’s stock worth $4,733,000 after acquiring an additional 5,590 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Rivian Automotive by 10.1% during the first quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker’s stock worth $679,000 after purchasing an additional 4,998 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Rivian Automotive by 29.0% during the first quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker’s stock worth $803,000 after purchasing an additional 14,497 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Rivian Automotive by 57.1% during the first quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock worth $64,000 after purchasing an additional 1,856 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.
Rivian Automotive Company Profile
Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.
Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.