RIVIAN AUTOMOTIVE, INC.

(RIVN)
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Delayed Nasdaq  -  05/16 04:00:00 pm EDT
24.86 USD   -6.89%
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Ford sells shares in EV maker Rivian for $188.2 million

05/13/2022 | 11:06pm EDT
Startup Rivian Automotive's electric vehicle factory in Normal

(Reuters) - Ford Motor Co sold 7 million shares of electric carmaker Rivian Automotive Inc for about $188.2 million, or $26.88 apiece, the U.S. automaker said in a filing on Friday.

Ford now holds 86.9 million shares in the California-headquartered company.

Rivian is struggling in a competitive market, including competition from Ford's F-150 Lightning electric pickup truck, while a supply chain crisis is limiting production at its plants.

The electric-car maker earlier slashed its planned 2022 production in half to 25,000 vehicles.

On Tuesday, Ford had sold about 8 million shares of Rivian worth $214 million.

Rivian shares closed at $26.70 on Friday.

(Reporting by Shivani Tanna in Bengaluru; Editing by Himani Sarkar)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY -3.33% 13.05 Delayed Quote.-37.17%
RIVIAN AUTOMOTIVE, INC. -6.89% 24.86 Delayed Quote.-76.02%
All news about RIVIAN AUTOMOTIVE, INC.
11:52aGLOBAL MARKETS LIVE : Pfizer, Tesla, Holcim, Novartis, Ford...
10:39aWALL STREET STOCK EXCHANGE : China added to the list of investors' fears
08:02aMARKETSCREENER'S WORLD PRESS REVIEW : May 16, 2022
06:29aSOCIAL BUZZ : Wallstreetbets Stocks Largely Down Premarket; Twitter Poised to Fall, SoFi T..
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05/13Ford sells shares in EV maker Rivian for $188.2 million
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05/13Ford Sold 7 Million Shares Of Rivian On May 13 For About $188.2 Million - SEC Filing
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05/13Barclays Lowers Rivian Automotive's Price Target to $24 From $38, Equalweight Rating Ke..
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05/13WALL STREET STOCK EXCHANGE : How much pain are we in for?
05/13Deutsche Bank Adjusts Rivian Automotive's Price Target to $69 From $90, Maintains Buy R..
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05/13MARKETSCREENER'S WORLD PRESS REVIEW : May 13, 2022
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Financials (USD)
Sales 2022 1 832 M - -
Net income 2022 -5 898 M - -
Net cash 2022 9 829 M - -
P/E ratio 2022 -3,94x
Yield 2022 -
Capitalization 22 390 M 22 390 M -
EV / Sales 2022 6,86x
EV / Sales 2023 2,53x
Nbr of Employees 10 422
Free-Float 82,4%
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 26,70 $
Average target price 60,63 $
Spread / Average Target 127%
EPS Revisions
Managers and Directors
Robert Joseph Scaringe Chairman & Chief Executive Officer
Claire McDonough Chief Financial Officer
Nick Kalayjian EVP-Engineering, Product Development & Programs
Karen Boone Lead Independent Director
Sanford H. Schwartz Independent Director
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