Is Wall Street High Or Low On Rivian Automotive Inc. (RIVN)?


Rivian Automotive Inc. (NASDAQ:RIVN) finished Thursday with a subtraction of -$1.77 to close at $33.33, a downside of -5.04 percent. An average of 26,762,521 shares of common stock have been traded in the last five days. There was a fall of -$6.36 in the past week. The last 20 days have seen an average of 20,769,846 shares traded, while the 50-day average volume stands at 17,323,400.

RIVN stock has increased by 3.48% in the last month. The company shares reached their 1-month lowest point of $30.71 on 09/01/22. Shares of the company touched a low of $19.25 and a high of $179.47 in 52 weeks. It has reached a new high 2 times so far this year and lost -67.86% or -$70.36 in price. In spite of this, the price is down -81.43% from the 52-week high.

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Insider Transactions

39 days have passed since Rivian Automotive Inc. (RIVN) last reported insider trading activity. Baker Jeff, who is Chief Accounting Officer, most recently acquired $1,753 shares at $37.27 per share on Aug 15. In this transaction, the insider spent $65,342. Chief Growth Officer, Behl Jiten, disposed of 1,608 shares at a price of $25.83 on May 17. The insider now owns more than $41,535 worth of shares. Prior to that, Chief Growth Officer Behl Jiten went on to Sale 892 shares at $25.56 each on May 16. An amount of $22,801 was transacted.

Valuation Metrics

Rivian Automotive Inc. (RIVN) has a trailing price-to-sales (P/S) ratio at 60.06, the price-to-book (PB) ratio at 1.79.

Financial Health

The quick ratio of Rivian Automotive Inc. for the three months ended June 29 was 8.60, and the current ratio was 9.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.07 and a total debt to equity ratio of 0.07 for the quarter ending June 29. Its gross profit as reported stood at -$465.0 million compared to revenue of $55.0 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Rivian Automotive Inc.’s return on assets was -38.70%.

Earnings Surprise

For the three-month period that ended June 29, Rivian Automotive Inc. had $1.23 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$1.71 billion in the quarter, while revenues of -$1.59 billion were grew 100.0%. The analyst consensus anticipated Rivian Automotive Inc.’s latest quarter earnings to come in at -$1.63 per share, but it turned out to be -$1.62, a 0.60% surprise. For the quarter, EBITDA amounted to -$1.55 billion. Shareholders own equity worth $916.19 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Rivian Automotive Inc. (RIVN) price momentum. RSI 9-day as of the close on 22 September was 34.18%, suggesting the stock is Neutral, with historical volatility in this time frame at 47.54%.

As of today, RIVN’s price is $36.28 -16.02% or -$6.36 from its 5-day moving average. RIVN is currently trading +2.36% higher than its 20-day SMA and +10.22% higher than its 100-day SMA. However, the stock’s current price level is +8.36% above the SMA50 and -71.46% below the SMA200.

The stochastic %K and %D were 39.10% and 54.06%, respectively, and the average true range (ATR) was 2.14. With the 14-day stochastic at 24.40% and the average true range at 2.12, the RSI (14) stands at 41.41%. The stock has reached -2.90 on the 9-day MACD Oscillator while the 14-day reading was at -1.82.

Analyst Ratings

Needham launched coverage on Rivian Automotive Inc. (NASDAQ: RIVN) in its analyst report released on September 15, 2022. The firm assigned the stock a Hold rating.


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