Royal Bank of Canada initiated coverage on shares of Rivian (NASDAQ:RIVN) in a research note issued to investors on Monday, Price Targets.com reports. The firm issued an outperform rating and a $165.00 price target on the electric vehicle automaker’s stock.
Other analysts have also issued research reports about the stock. Bank of America assumed coverage on shares of Rivian in a research report on Monday. They set a buy rating and a $170.00 target price on the stock. Wedbush initiated coverage on shares of Rivian in a research note on Sunday. They issued an outperform rating and a $130.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Rivian in a research note on Sunday. They set a neutral rating and a $94.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Rivian in a research note on Monday. They set a neutral rating and a $104.00 price target on the stock. Finally, Robert W. Baird started coverage on shares of Rivian in a report on Monday. They set an outperform rating and a $150.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of 134.08.
Shares of RIVN opened at 122.12 on Monday. Rivian has a twelve month low of 95.20 and a twelve month high of 179.47.
In other news, CFO Claire Mcdonough bought 2,450 shares of the firm’s stock in a transaction that occurred on Monday, November 15th. The stock was acquired at an average cost of 78.00 per share, with a total value of 191,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Scaringe purchased 128,175 shares of the business’s stock in a transaction on Monday, November 15th. The shares were acquired at an average cost of 78.00 per share, with a total value of 9,997,650.00. The disclosure for this purchase can be found here. Insiders purchased a total of 171,025 shares of company stock worth $13,339,950 over the last quarter.
About Rivian
Rivian is an American electric vehicle automaker and automotive technology company founded in 2009. Rivian is building an electric sport utility vehicle and pickup truck on a “skateboard” platform that can support future vehicles or be adopted by other companies.
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