The price of Rivian Automotive Inc (NASDAQ:RIVN) shares last traded on Wall Street rose 13.28% to $11.60.
RIVN stock price is now 8.22% away from the 50-day moving average and -3.27% away from the 200-day moving average. The market capitalization of the company currently stands at $12.10B.
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With the price target reduced from $20 to $13, BofA Securities Downgraded its rating from Buy to Neutral for Rivian Automotive Inc (NASDAQ: RIVN). On September 25, 2024, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock reducing its target price from $16 to quote $13, while ‘Deutsche Bank’ rates the stock as ‘Hold’
In other news, ROBERT J. SCARINGE, Officer bought 83,334 shares of the company’s stock on Nov 25 ’24. The stock was bought for $937,508 at an average price of $11.25. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 18 ’24, Chief Financial Officer McDonough Claire sold 3,210 shares of the business’s stock. A total of $32,196 was realized by selling the stock at an average price of $10.03. This leaves the insider owning 378,498 shares of the company worth $4.39 million. A total of 27.56% of the company’s stock is owned by insiders.
During the past 12 months, Rivian Automotive Inc has had a low of $8.26 and a high of $24.61. As of last week, the company has a debt-to-equity ratio of 0.99, a current ratio of 5.09, and a quick ratio of 3.70. The fifty day moving average price for RIVN is $10.7506 and a two-hundred day moving average price translates $12.017225 for the stock.
The latest earnings results from Rivian Automotive Inc (NASDAQ: RIVN) was released for 2024-09-30. The net profit margin was -121.38% and return on equity was -67.16% for RIVN. The company reported revenue of $874.0 million for the quarter, compared to $1.34 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -34.63 percent.
