Rivian Automotive Sees Spike in Options Trading Activity

On Monday, Rivian Automotive, Inc. (NASDAQ:RIVN) experienced a surge in options trading activity as traders purchased 237,080 call options. This figure marks an approximate 40% increase from the usual daily volume of 169,320 call options.

Recent Insider Transactions

In related news, CEO Robert J. Scaringe sold 71,429 shares of his company's stock on December 12th at an average price of $13.65, totaling $975,005.85. After this transaction, Scaringe retains ownership of 863,361 shares valued at around $11,784,877.65, which reflects a 7.64% decrease in his stake.

Additionally, CFO Claire McDonough sold 3,210 shares of Rivian's stock on November 18th for $10.03 each, resulting in $32,196.30. Post-sale, she holds 378,498 shares in the company, estimated at $3,796,334.94, representing a 0.84% decline in her ownership. Over the past 90 days, insiders sold 249,403 shares valued at $3,013,489, with insiders owning about 2.51% of the company's stock.

Institutional Investors' Activity

Institutional investors have shown interest in Rivian Automotive, with hedge funds adjusting their positions. In the third quarter, Wilmington Savings Fund Society FSB acquired a new stake worth approximately $28,000. GHP Investment Advisors Inc. increased its holdings by 63.2%, now owning 2,588 shares valued at $29,000. American Capital Advisory LLC raised its stake significantly by 267.6%, holding 2,900 shares worth $33,000 after adding 2,111 shares last quarter. Hantz Financial Services Inc. also boosted its position by an impressive 2,636.4%, now owning 3,010 shares valued at $34,000. Furthermore, International Assets Investment Management LLC purchased a new stake in Rivian valued at $37,000. Currently, institutional investors own 66.25% of Rivian's stock.

Analyst Views on Rivian Stock

Several analysts have made recent assessments about Rivian’s stock. Stifel Nicolaus downgraded its price target from $18.00 to $16.00, maintaining a 'buy' rating, while Wells Fargo & Company lowered its projection from $15.00 to $11.00, setting an 'equal weight' rating. Wolfe Research initiated coverage of Rivian with a 'peer perform' rating. Guggenheim reduced its target from $21.00 to $18.00 and kept a 'buy' rating. Needham & Company LLC cut their price target from $18.00 to $14.00 and also rated it a 'buy'. Currently, the consensus rating for Rivian Automotive shows one sell rating, twelve hold ratings, and eleven buy ratings, with a target average price of $15.83 according to MarketBeat.com.

Stock Performance Overview

Rivian Automotive shares opened at $14.70 on Wednesday. The company has a quick ratio of 3.70, a current ratio of 5.09, and a debt-to-equity ratio of 0.93. Its market capitalization stands at $15.00 billion, with a P/E ratio of -2.63 and a beta of 2.12. The 50-day moving average price for Rivian is $11.18 while the 200-day average is $12.71. Over the past year, the stock reached a low of $8.26 and a high of $24.61.

About Rivian Automotive

Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories through its subsidiaries. The company offers consumer vehicles including the R1T, a five-passenger pickup truck, and the R1S, a seven-passenger sport utility vehicle.

Rivian, Options, Trading