In a recent transaction, Robert J. Scaringe, the Chief Executive Officer of Rivian Automotive , Inc. (NASDAQ:), sold 71,429 shares of the company’s Class A common stock. This sale, which occurred on January 6, 2025, was part of a pre-arranged trading plan and brought in approximately $1.15 million, with the shares sold at an average price of $16.1712 each. The transaction comes as Rivian, currently valued at $15.26 billion, maintains a strong liquidity position with a current ratio of 5.09, indicating robust short-term financial health.
The shares were sold in multiple transactions at prices ranging from $15.94 to $16.60. Following this sale, Scaringe continues to hold a significant stake in Rivian, with 863,361 shares owned directly. Additionally, he maintains indirect ownership of 4,595 shares through an LLC and 2,632,766 shares through a trust. According to InvestingPro, Rivian’s stock has shown significant price volatility, with 12 key insights available for subscribers.
Earlier on the same day, Scaringe also exercised stock options to acquire 71,429 shares at a price of $2.6282 per share, amounting to a total of approximately $187,729. These transactions reflect Scaringe’s ongoing involvement and investment in Rivian, a company known for its electric vehicles and innovative automotive technologies. Based on InvestingPro‘s Fair Value analysis, the stock is currently trading near its fair value, with detailed insights available in the comprehensive Pro Research Report.
In other recent news, Rivian Automotive has made significant strides in meeting its 2024 production and delivery targets, producing 49,476 vehicles and delivering 51,579. Despite a challenging market, the company’s fourth-quarter results surpassed CFRA’s projections. Analyst Garrett Nelson from CFRA has raised the 12-month price target for Rivian to $8, maintaining a Sell rating on the company’s shares. However, Rivian’s ability to achieve a positive gross margin forecasted by management remains uncertain.
Rivian has also entered a confidential agreement with the United Auto Workers, potentially leading to unionization at its Illinois factory. This move is contingent on Rivian achieving profitability and could facilitate a $6.6 billion conditional loan from the US Energy Department for a new EV plant construction in Georgia. Analyst firms such as Goldman Sachs and Benchmark have maintained neutral and buy ratings respectively.
These recent developments indicate that investors and analysts are closely watching Rivian’s financial health and market position, especially with the upcoming earnings report. The company’s earnings and revenue information, along with the outlook from various analyst firms, will be critical factors for investors in the volatile EV market.
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