The price of Rivian Automotive Inc (NASDAQ:RIVN) shares last traded on Wall Street fell -1.81% to $15.72.
Based on available information, 25 analysts follow Rivian Automotive Inc (NASDAQ:RIVN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $44.00 and a low of $15.00, we find $27.50. Given the previous closing price of $16.01, this indicates a potential upside of 71.77 percent. RIVN stock price is now -25.01% away from the 50-day moving average and -13.72% away from the 200-day moving average. The market capitalization of the company currently stands at $14.87B.
Among analysts, 6 rate the stock a hold while 15 rate it a buy. Brokers who have rated the stock have averaged $28.05 as their price target over the next twelve months.
With the price target maintained at $29, Cantor Fitzgerald recently Upgraded its rating from Neutral to Overweight for Rivian Automotive Inc (NASDAQ: RIVN).
In other news, McDonough Claire, Chief Financial Officer sold 3,265 shares of the company’s stock on Sep 15. The stock was sold for $79,144 at an average price of $24.24. Upon completion of the transaction, the Chief Financial Officer now directly owns 173,030 shares in the company, valued at $2.72 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 08, Chief Financial Officer McDonough Claire sold 3,625 shares of the business’s stock. A total of $49,699 was realized by selling the stock at an average price of $13.71. This leaves the insider owning 72,304 shares of the company worth $1.14 million. Insiders disposed of 1,818,701 shares of company stock worth roughly $28.59 million over the past 1 year. A total of 30.35% 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 SOMA EQUITY PARTNERS LP during the first quarter worth $24,015,000. HRT FINANCIAL LP invested $20,713,000 in shares of RIVN during the first quarter. In the first quarter, J. GOLDMAN & CO LP acquired a new stake in Rivian Automotive Inc valued at approximately $19,603,000. WELLINGTON MANAGEMENT GROUP LLP acquired a new stake in RIVN for approximately $17,694,000. HOUND PARTNERS, LLC purchased a new stake in RIVN valued at around $13,299,000 in the second quarter. In total, there are 826 active investors with 47.17% ownership of the company’s stock.
During the past 12 months, Rivian Automotive Inc has had a low of $11.68 and a high of $36.45. As of last week, the company has a debt-to-equity ratio of 0.26, a current ratio of 5.66, and a quick ratio of 4.71. The fifty day moving average price for RIVN is $20.86 and a two-hundred day moving average price translates $18.21 for the stock.
The latest earnings results from Rivian Automotive Inc (NASDAQ: RIVN) was released for Jun, 2023. According to the Auto Manufacturers Company, earnings per share came in at -$1.08, beating analysts’ expectations of -$1.41 by 0.33. This compares to -$1.89 EPS in the same period last year. The net profit margin was -200.97% and return on equity was -41.92% for RIVN. The company reported revenue of $1.12 billion for the quarter, compared to $364.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 207.97 percent. For the current quarter, analysts expect RIVN to generate $1.31B 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 seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc. 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 Irvine, California.
