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Rivian Automotive (RIVN) Gets a Hold Rating from Wells Fargo

In a report released today, Colin Langan from Wells Fargo maintained a Hold rating on Rivian Automotive (RIVNResearch Report), with a price target of $30.00. The company’s shares closed last Friday at $31.99, close to its 52-week low of $19.25.

According to TipRanks.com, Langan is a 1-star analyst with an average return of -1.5% and a 51.8% success rate. Langan covers the Industrial Goods sector, focusing on stocks such as Magna International, Dana Holding, and BorgWarner.

Rivian Automotive has an analyst consensus of Moderate Buy, with a price target consensus of $50.14, a 59.6% upside from current levels. In a report issued on July 6, CFRA also maintained a Hold rating on the stock with a $28.00 price target.

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Based on Rivian Automotive’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $95 million and GAAP net loss of $1.59 billion. In comparison, last year the company had a GAAP net loss of $414 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Rivian Automotive Inc designs, develops and manufactures category-defining electric vehicles and accessories.

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