Rivian falls after reporting decline in first-quarter deliveries

Electric vehicle maker Rivian's RIVN.O shares fall 4.3% to $12.66

The company delivered 8,640 vehicles in the quarter ended March 31, compared with 13,588 a year ago

The market expected Rivian to deliver 8,200 vehicles, according to Visible Alpha

RIVN is grappling with soft demand, partially due to the impact of the fires in Los Angeles

*Competitor Tesla TSLA.O also reported lower Q1 deliveries of 336,681 vehicles; analysts estimated deliveries of 372,410 vehicles, according to an average estimate of 15 analysts from Visible Alpha, who had lowered their forecasts in the past 30 days

10 of 31 brokerages rate the stock "buy" or higher, 17 "hold" and 4 "sell" or lower; their median PT is $14 - LSEG data

Up to last close, stock had fallen 0.2% YTD