In yesterday’s Wall Street session, Rivian Automotive Inc (NASDAQ:RIVN) shares traded at $14.45, up 11.15% from the previous session.
RIVN stock price is now 34.04% away from the 50-day moving average and 21.57% away from the 200-day moving average. The market capitalization of the company currently stands at $15.54B.
With the price target of $18, The Benchmark Company recently initiated with Buy rating for Rivian Automotive Inc (NASDAQ: RIVN). On November 08, 2024, BofA Securities Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $20 to quote $13, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
In other news, McDonough Claire, Chief Financial Officer sold 8,097 shares of the company’s stock on Nov 26 ’24. The stock was sold for $98,783 at an average price of $12.20. Upon completion of the transaction, the Chief Financial Officer now directly owns 370,401 shares in the company, valued at $5.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 25 ’24, Chief Executive Officer Scaringe Robert J sold 83,334 shares of the business’s stock. A total of $937,508 was realized by selling the stock at an average price of $11.25. This leaves the insider owning 863,361 shares of the company worth $12.48 million. A total of 27.54% 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 $10.7234 and a two-hundred day moving average price translates $11.863925 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.
