Y Intercept Hong Kong Ltd Invests $4.04 Million in Rivian Automotive, Inc. (NASDAQ:RIVN)

Y Intercept Hong Kong Ltd acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 303,461 shares of the electric vehicle automaker’s stock, valued at approximately $4,036,000.

Other large investors have also recently bought and sold shares of the company. Tandem Financial LLC purchased a new position in Rivian Automotive in the fourth quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Rivian Automotive during the fourth quarter worth about $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rivian Automotive during the third quarter worth about $28,000. GHP Investment Advisors Inc. grew its holdings in shares of 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 buying an additional 1,002 shares during the last quarter. Finally, Bear Mountain Capital Inc. grew its holdings in shares of Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock worth $36,000 after buying an additional 1,932 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Down 4.7 %

Shares of Rivian Automotive stock opened at $12.97 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.85. The company has a market capitalization of $13.24 billion, a P/E ratio of -2.75 and a beta of 2.04. The business has a 50 day moving average price of $13.56 and a 200 day moving average price of $12.50.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RIVN has been the topic of a number of research reports. UBS Group raised their price target on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Truist Financial lifted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Bank of America lowered Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $13.00 in a report on Friday, November 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Finally, Piper Sandler lowered their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Rivian Automotive presently has an average rating of “Hold” and a consensus price target of $15.09.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $13.88, for a total value of $991,434.52. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,983,450.68. The trade was a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Claire Mcdonough sold 8,097 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the transaction, the chief financial officer now owns 370,401 shares of the company’s stock, valued at $4,518,892.20. This trade represents a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 283,454 shares of company stock worth $4,086,923. Insiders own 2.51% of the company’s stock.

Rivian Automotive Company Profile

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.