Rivian Automotive Inc. (RIVN) Reached A New High 2 times During The Past Five Days

As of Thursday close, Rivian Automotive Inc.’s (NASDAQ:RIVN) stock was up $0.91, moving up 3.19 percent to $29.47. The average number of shares traded per day over the past five days has been 19,457,539 shares. 2 times new highs have been achieved over the past 5 days, with a $0.39 gain in that time frame. In the last twenty days, the average volume was 16,652,959, while in the previous 50 days, it was 21,311,840.

Since last month, RIVN stock rose 5.29%. Shares of the company fell to $25.54 on 05/24/22, the lowest level in the past month. Since the beginning of this year, RIVN’s stock price has dropped by -71.58% or -$74.22, and marked a new high 2 times. However, the stock has declined by -83.58% since its 52-week high.

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Rivian Automotive Inc. (RIVN) last reported insider trading activity 29 days ago on May 26. FLATLEY JAY T, the Director of the company, purchased of 40,000 shares for $29.31 on May 26. It resulted in a $1,172,400 investment by the insider. Behl Jiten sold 1,608 shares at an average price of $25.83 on May 17. The insider now owns 25,900 shares following the transaction. On May 16, Chief Executive Officer Scaringe Robert J bought 41,000 shares at $25.78 apiece. The transaction was valued at $1,056,865.

Financial Health

In the three months ended March 30, Rivian Automotive Inc.’s quick ratio stood at 10.90, while its current ratio was 11.20, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.07. Based on annual data, RIVN earned -$465.0 million in gross profit and brought in $55.0 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -22.50%. Return on equity (ROE) for the past 12 months was -73.80%.

In Rivian Automotive Inc.’s quarter-end financial report for March 30, it reported total debt of $1.23 billion. RIVN’s revenue rose 100.0% to -$1.0 million during the quarter, while net income inched up to $95.0 million. While analysts expected Rivian Automotive Inc. to report -$1.44 quarterly earnings, the actual figure was -$1.43 per share, beating the consensus estimate by 0.70%. During the quarter, the company generated -$1.46 billion in EBITDA. The liabilities of Rivian Automotive Inc. were 3.04 billion at the end of its most recent quarter ended March 30, and its total debt was $1.57 billion. The value of shareholders’ equity is $900.66 million.

Technical Picture

This quick technical analysis looks at Rivian Automotive Inc.’s (RIVN) price momentum. With a historical volatility rate of 89.76%, the RSI 9-day stood at 54.56% on 23 June.

With respect to its five-day moving average, the current Rivian Automotive Inc. price is up by +1.34% percent or $0.39. At present, RIVN shares trade +11.08% above its 20-day simple moving average and -48.41% percent below its 100-day simple moving average. However, the stock is currently trading approximately -25.39% below its SMA50.

Stochastic coefficient K was 51.89% and Stochastic coefficient D was 35.63%, while ATR was 2.44. Given the Stochastic reading of 66.10% for the 14-day period, the RSI (14) reading has been calculated as 50.97%. As of today, the MACD Oscillator reading stands at 1.11, while the 14-day reading stands at 0.54.

Analyst Ratings

DA Davidson launched its rating on Rivian Automotive Inc. (NASDAQ: RIVN) to an Underperform in a note to investors on June 02, 2022. Rivian Automotive Inc. (RIVN) has been rated Overweight by analysts. According to 0 brokerage firms, RIVN is a sell, and 7 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Rivian Automotive Inc. stock as buy, with 9 recommending it as overweight.

With a median target price of $44.00, the current consensus forecast for the stock is $24.00 – $108.00. Based on these forecasts, analysts predict Rivian Automotive Inc. (RIVN) will achieve an average price target of $51.60.


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