
Wolfe Research Downgrades Rivian Automotive (NASDAQ:RIVN) to Underperform

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Wolfe Research has downgraded Rivian Automotive (NASDAQ:RIVN) from a "peer perform" rating to an "underperform" rating. Other analysts have mixed views, with Zacks upgrading to "hold" and UBS raising the price target to $13.00. Rivian's stock opened at $19.22, with a market cap of $23.56 billion. The company reported a quarterly revenue of $1.56 billion, exceeding estimates, but has a negative return on equity of 57.33%. Recent insider sales have also been noted, with CFO and CEO selling shares. Rivian's average rating is "hold" with a consensus price target of $15.95.
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