As of Wednesday close, Rivian Automotive Inc.’s (NASDAQ:RIVN) stock was down -$0.34, moving down -1.50 percent to $22.40. The average number of shares traded per day over the past five days has been 26,754,500 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.85 fall in that time frame. In the last twenty days, the average volume was 22,611,916, while in the previous 50 days, it was 40,513,609.
Since last month, RIVN stock rose 5.76%. Shares of the company fell to $19.48 on 08/24/23, the lowest level in the past month. A 52-week high of $38.34 was reached on 07/27/23 after having rallying from a 52-week low of $11.68. Since the beginning of this year, RIVN’s stock price has risen by 21.54% or $3.97, and marked a new high 10 times. However, the stock has declined by -41.58% since its 52-week high.
RIVN stock investors should be aware that Rivian Automotive Inc. (RIVN) stock had its last reported insider trading activity 6 days ago on Sep 15. McDonough Claire, the Chief Financial Officer of the company, disposed of 3,265 shares for $24.24 on Sep 15. It resulted in a $79,144 divestment by the insider. McDonough Claire sold 3,625 shares at an average price of $13.71 on Jun 08. The insider now owns 72,304 shares following the transaction. On Jun 06, Chief Accounting Officer Baker Jeff sold 20,000 shares at $14.53 apiece. The transaction was valued at $290,600.
Valuation Metrics
The stock’s beta is 2.12. Besides these, the trailing price-to-sales (P/S) ratio of 7.10, the price-to-book (PB) ratio of 1.80.
Financial Health
In the three months ended June 29, Rivian Automotive Inc.’s quick ratio stood at 4.70, while its current ratio was 5.70, 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 June 29 was 0.23, and the total debt-to-equity ratio was 0.23. On the profitability front, the trailing twelve-month gross margin is -79.30% percent. Based on annual data, RIVN earned -$3.12 billion in gross profit and brought in $1.66 billion 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 -45.60%. Return on equity (ROE) for the past 12 months was -44.70%.
In Rivian Automotive Inc.’s quarter-end financial report for June 29, it reported total debt of $2.72 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. RIVN’s revenue rose 67.53% to $661.0 million during the quarter, while net income inched up to $1.12 billion. While analysts expected Rivian Automotive Inc. to report -$1.41 quarterly earnings, the actual figure was -$1.08 per share, beating the consensus estimate by 23.40%. During the quarter, the company generated -$1.06 billion in EBITDA. The liabilities of Rivian Automotive Inc. were 5.51 billion at the end of its most recent quarter ended June 29, and its total debt was $3.22 billion. The value of shareholders’ equity is $948.14 million.
Technical Picture
This quick technical analysis looks at Rivian Automotive Inc.’s (RIVN) price momentum. With a historical volatility rate of 33.57%, the RSI 9-day stood at 41.86% on 20 September.
With respect to its five-day moving average, the current Rivian Automotive Inc. price is down by -3.66% percent or -$0.85. At present, RIVN shares trade +11.55% above its 20-day simple moving average and +76.80% percent above its 100-day simple moving average. However, the stock is currently trading approximately -9.86% below its SMA50 and -28.84% below its SMA200.
Stochastic coefficient K was 44.26% and Stochastic coefficient D was 66.34%, while ATR was 1.13. Given the Stochastic reading of 21.00% for the 14-day period, the RSI (14) reading has been calculated as 46.63%. As of today, the MACD Oscillator reading stands at -0.44, while the 14-day reading stands at -0.38.
Analyst Ratings
UBS launched its rating on Rivian Automotive Inc. (NASDAQ: RIVN) to a Neutral in a note to investors on September 13, 2023. Rivian Automotive Inc. (RIVN) has been rated Overweight by analysts. According to 0 brokerage firms, RIVN is a sell, and 10 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate Rivian Automotive Inc. stock as buy, with 12 recommending it as overweight.
With a median target price of $29.50, the current consensus forecast for the stock is $15.00 – $44.00. Based on these forecasts, analysts predict Rivian Automotive Inc. (RIVN) will achieve an average price target of $28.36.
