Cypress Capital LLC Sells 1,797 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Cypress Capital LLC lowered its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 13.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,018 shares of the electric vehicle automaker’s stock after selling 1,797 shares during the quarter. Cypress Capital LLC’s holdings in Rivian Automotive were worth $160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aspen Investment Management Inc purchased a new position in Rivian Automotive during the fourth quarter valued at $138,000. Prakash Investment Advisors LLC purchased a new position in Rivian Automotive during the fourth quarter valued at $222,000. Bear Mountain Capital Inc. lifted its position in 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 valued at $36,000 after buying an additional 1,932 shares during the period. Handelsbanken Fonder AB lifted its position in Rivian Automotive by 21.6% during the fourth quarter. Handelsbanken Fonder AB now owns 199,000 shares of the electric vehicle automaker’s stock valued at $2,647,000 after buying an additional 35,300 shares during the period. Finally, Ieq Capital LLC lifted its position in Rivian Automotive by 6.7% during the fourth quarter. Ieq Capital LLC now owns 101,585 shares of the electric vehicle automaker’s stock valued at $1,351,000 after buying an additional 6,344 shares during the period. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Down 4.7 %

RIVN stock opened at $12.97 on Friday. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week 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 business has a fifty day moving average of $13.56 and a two-hundred day moving average of $12.53.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America lowered Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $13.00 in a research report on Friday, November 8th. Baird R W lowered Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays lifted their price target on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Finally, UBS Group lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and a consensus price target of $15.50.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,097 shares of Rivian Automotive stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total transaction of $98,783.40. Following the completion of the sale, the chief financial officer now directly owns 370,401 shares of the company’s stock, valued at $4,518,892.20. The trade was a 2.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $13,960,547.37. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 366,788 shares of company stock valued at $5,024,431 in the last three months. 2.51% of the stock is owned by corporate insiders.

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.