Rivian Automotive Inc. (NASDAQ:RIVN) saw an upside of 1.92% to close Monday at $21.18 after adding $0.4 on the day. The 5-day average trading volume is 29,211,881 shares of the company’s common stock. It has gained $21.86 in the past week and touched a new high 1 time within the past 5 days. An average of 43,478,781 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 58,372,922.
RIVN’s 1-month performance is -16.19% or -$4.09 on its low of $20.18 reached on 08/18/23. The company’s shares have touched a 52-week low of $11.68 and high of $40.86, with the stock’s rally to the 52-week high happening on 07/27/23. YTD, RIVN has achieved 14.92% or $2.75 and has reached a new high 10 times. However, the current price is down -48.16% from the 52-week high price.
Insider Transactions
RIVN stock investors last saw insider trading activity on Jun 08.McDonough Claire (Chief Financial Officer) most recently sold 3,625 shares at $13.71 per share on Jun 08. This transaction cost the insider $49,699. Chief Accounting Officer, Baker Jeff, sold 20,000 shares at a price of $14.53 on Jun 06. Then, on Jun 01, Chief Accounting Officer Baker Jeff sold 30,798 shares at a price of $14.70 per share. This transaction amounted to $452,764.
Valuation Metrics
RIVN stock has a beta of 2.18. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 6.78 while the price-to-book (PB) in the most recent quarter is 1.70.
Rivian Automotive Inc.’s quick ratio for the period ended June 29 was 4.70, with the current ratio over the same period at 5.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.23, while the total debt to equity was 0.23. In terms of profitability, the gross margin trailing 12 months is -79.30%. The trailing 12-month EBITDA margin is -374.49%. The firm’s gross profit as reported stood at -$3.12 billion against revenue of $1.66 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -43.26% to -$1.2 billion, while revenue of -$1.35 billion was -12.89% off the previous quarter. Analysts expected RIVN to announce -$1.41 per share in earnings in its latest quarter, but it posted -$1.08, representing a 23.40% surprise. EBITDA for the quarter stood at more than -$1.06 billion. RIVN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.51 billion, with total debt at $3.22 billion. Shareholders hold equity totaling $948.14 million.
Let’s look briefly at Rivian Automotive Inc. (RIVN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 35.15% to suggest the stock is trending Neutral, with historical volatility in this time period at 52.70%.
The stock’s 5-day moving average is $20.95, reflecting a -1.76% or -$0.38 change from its current price. RIVN is currently trading -17.94% above its 20-day SMA, +63.43% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +50.75% and SMA200 by-36.74%.
Stochastic %K and %D was 10.86% and 9.66% and the average true range (ATR) pointed at 1.41. The RSI (14) points at 41.64%, while the 14-day stochastic is at 14.64% with the period’s ATR at 1.51. The stock’s 9-day MACD Oscillator is pointing at -0.38 and -1.81 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Rivian Automotive Inc. (NASDAQ: RIVN), Exane BNP Paribas upgraded it to an Outperform rating. They previously had a Neutral rating on the stock. Analysts offering their rating for RIVN stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate RIVN as a “sell,”, while 9 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 2 rates the stock as overweight while 12 have offered a “buy” rating.
What is RIVN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $15.00 and a high of $44.00, with their median price target at $30.00. Looking at these predictions, the average price target given by analysts is for Rivian Automotive Inc. (RIVN) stock is $28.48.
