In yesterday’s Wall Street session, Rivian Automotive Inc. (NASDAQ:RIVN) shares traded at $28.42, down -6.33% from the previous session.
19 analysts cover Rivian Automotive Inc. (NASDAQ:RIVN), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $70.00 and a low of $23.00, we find $50.00. Given the previous closing price of $30.34, this indicates a potential upside of 64.8 percent. RIVN stock price is now -15.76% away from the 50-day moving average and -22.46% away from the 200-day moving average. The market capitalization of the company currently stands at $27.67B.
The stock has received a hold rating from 4 analysts and a buy rating from 11. Brokers who have rated the stock have averaged $47.53 as their price target over the next twelve months.
With the price target of $65, Truist recently initiated with Buy rating for Rivian Automotive Inc. (NASDAQ: RIVN). On September 28, 2022, RBC Capital Mkts reiterated its ‘Outperform’ rating on the stock by increasing its target price from $75 to quote $62, while ‘Needham’ rates the stock as ‘Hold’.
In other news, McDonough Claire, Chief Financial Officer sold 3,257 shares of the company’s stock on Nov 16. The stock was sold for $111,650 at an average price of $34.28. Upon completion of the transaction, the Chief Financial Officer now directly owns 77,894 shares in the company, valued at $2.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15, Chief Financial Officer McDonough Claire sold 14,235 shares of the business’s stock. A total of $497,149 was realized by selling the stock at an average price of $34.92. This leaves the insider owning 81,151 shares of the company worth $2.31 million. Insiders disposed of 15,010,287 shares of company stock worth roughly $426.59 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RIVN stock. A new stake in Rivian Automotive Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $319,322,000. NORGES BANK invested $56,647,000 in shares of RIVN during the first quarter. In the first quarter, SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC acquired a new stake in Rivian Automotive Inc. valued at approximately $18,755,000. J. GOLDMAN & CO LP acquired a new stake in RIVN for approximately $15,072,000. ALYESKA INVESTMENT GROUP, L.P. purchased a new stake in RIVN valued at around $9,237,000 in the second quarter. In total, there are 749 active investors with 69.20% ownership of the company’s stock.
On Monday morning Rivian Automotive Inc. (NASDAQ: RIVN) stock kicked off with the opening price of $29.68. During the past 12 months, Rivian Automotive Inc. has had a low of $19.25 and a high of $139.90. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 6.80, and a quick ratio of 6.40. The fifty day moving average price for RIVN is $33.74 and a two-hundred day moving average price translates $36.65 for the stock.
The latest earnings results from Rivian Automotive Inc. (NASDAQ: RIVN) was released for Jun, 2022. According to the Auto Manufacturers Company, earnings per share came in at -$1.62, beating analysts’ expectations of -$1.63 by 0.01. This compares to -$12.21 EPS in the same period last year. The company reported revenue of $536.0 million for the quarter, compared to $1.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 53500.0 percent. For the current quarter, analysts expect RIVN to generate $554.99M in revenue.
Rivian Automotive Inc.(RIVN) Company Profile
Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets. Rivian Automotive, Inc. was founded in 2009 and is based in San Jose, California.