The stock of Rivian Automotive Inc. (NASDAQ:RIVN) increased by $0.46 on Monday to finish at $20.53, up 2.29 percent. The last five days have seen an average of 19,778,621 shares of common stock traded. 10 times new highs were reached in the current year, with a gain of $2.10. The average number of shares traded over the last 20 days was 34,759,656, while the average volume over the last 50 days totaled 56,867,195.
RIVN stock dropped -23.79% since last month. On 08/24/23, the company’s shares reached a one-month low of $19.48. The stock touched a high of $40.86 on 07/27/23, after rallying from a low of $11.68 in 52 weeks. The price of RIVN stock has risen by 11.39% or $2.10 this year, reaching a new high 10 times. Still, the stock price is down -49.76% from the 52-week high.
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Insider Transactions
RIVN stock investors should be aware that Rivian Automotive Inc. (RIVN) stock had its last reported insider trading activity 82 days ago on Jun 08. On Jun 08, Chief Financial Officer McDonough Claire sold 3,625 shares at $13.71 each. This transaction resulted in the insider making $49,699. On Jun 06, Baker Jeff sold 20,000 shares at a price of US$14.53. After the transaction, the insider now owns 86,204 shares. Chief Accounting Officer Baker Jeff had earlier sold 30,798 shares on Jun 01 for $14.70 a share. The transaction was completed for $452,764.
Valuation Metrics
Beta for the stock is 2.20. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 6.39, the price-to-book (PB) ratio of 1.65.
Financial Health
For the three months ended June 29, Rivian Automotive Inc.’s quick ratio was 4.70, while its current ratio was 5.70, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.23, and the total debt to equity ratio is 0.23. As far as profitability goes, gross margin for the trailing twelve months is -79.30% percent. Based on annual data, it had gross profit of -$3.12 billion and revenue of $1.66 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RIVN’s return on assets (ROA) during the last 12 months has been -33.10%. There was a -45.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -44.70%.
Earnings Surprise
According to Rivian Automotive Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.12 billion, while revenues rose by 67.53% to $661.0 million. It was predicted that Rivian Automotive Inc.’s quarterly earnings would be -$1.08, but it ended up being -$1.41, beating the consensus by 23.40%. EBITDA was -$1.06 billion for the quarter. At the end of Rivian Automotive Inc.’s most recent quarter ended June 29, its liabilities totaled 5.51 billion, while its total debt was $3.22 billion. Equity owned by shareholders amounts to $948.14 million.
Technical Picture
Here’s a quick look at Rivian Automotive Inc.’s (RIVN) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 39.52%, suggesting the stock is Neutral, with a 39.98% historical volatility rate.
The stochastic %K and %D were 9.60% and 7.48% respectively, while the average true range (ATR) was 1.20. Based on the 14-day stochastic reading of 16.80%, the RSI (14) reading is 41.97%. On the 9-day MACD Oscillator, the stock is at -0.43, and the 14-day reading is at -0.83.
Analyst Ratings
In its most recent analyst report, Exane BNP Paribas raised its rating on Rivian Automotive Inc. (NASDAQ: RIVN) to an Outperform. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Rivian Automotive Inc. (RIVN) an Overweight rating. RIVN is a stock that is recommended for selling by 0 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 2 rates it overweight and 11 others recommend it as a buy.
What is RIVN’s price target for the next 12 months?
The current consensus forecast for the stock is between $15.00 and $44.00, with a median target price of $30.00. In analyzing these forecasts, the average price target given by analysts for Rivian Automotive Inc. (RIVN) is $28.48.
