Cambridge Investment Research Advisors Inc. Takes Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Cambridge Investment Research Advisors Inc. acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,770 shares of the electric vehicle automaker’s stock, valued at approximately $3,294,000.

Other institutional investors have also bought and sold shares of the company. Sargent Bickham Lagudis LLC acquired a new position in Rivian Automotive during the fourth quarter worth $25,000. Baldwin Brothers LLC MA acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $26,000. Larson Financial Group LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $27,000. Finally, Atticus Wealth Management LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 50.13% of the company’s stock.

Rivian Automotive stock opened at 33.76 on Friday. The firm has a fifty day simple moving average of 48.23. Rivian Automotive, Inc. has a 52 week low of 33.38 and a 52 week high of 179.47. The company has a quick ratio of 13.93, a current ratio of 14.14 and a debt-to-equity ratio of 0.06.

Rivian Automotive (NASDAQ:RIVNGet Rating) last released its earnings results on Thursday, March 10th. The electric vehicle automaker reported -2.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of -1.97 by -0.46. The company had revenue of 54.00 million during the quarter, compared to analysts’ expectations of 60.72 million. Research analysts predict that Rivian Automotive, Inc. will post -6.31 EPS for the current year.

A number of equities analysts recently commented on RIVN shares. Royal Bank of Canada lowered their target price on Rivian Automotive from $116.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, March 11th. Deutsche Bank Aktiengesellschaft reduced their price target on Rivian Automotive from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday. Mizuho reduced their price target on Rivian Automotive from $95.00 to $90.00 in a research report on Wednesday. Barclays reduced their price target on Rivian Automotive from $115.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 8th. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $85.00 price target (down previously from $147.00) on shares of Rivian Automotive in a research report on Friday, March 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of 83.59.

About Rivian Automotive (Get Rating)

Rivian Automotive, Inc develops and manufactures electric adventure vehicles. It offers five-passenger pickup trucks and sports utility vehicles. The company provides electric SUVs and electric pickup vehicles. The company was founded in 2009 and is based in San Jose, California. It has additional facilities in Irvine, Carson, and Palo Alto, California; Normal, Illinois; Woking, United Kingdom; Plymouth, Michigan; Vancouver, Canada; and Wittman, Arizona.

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Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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