Rivian Automotive Inc (NASDAQ:RIVN) finished Thursday with an addition of $0.03 to close at $23.08, an upside of 0.13 percent. An average of 28,014,561 shares of common stock have been traded in the last five days. There was a gain of $1.55 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 24,373,885 shares traded, while the 50-day average volume stands at 34,648,332.
RIVN stock has increased by 3.45% in the last month. The company shares reached their 1-month lowest point of $20.03 on 09/25/23. With the stock rallying to its 52-week high on 07/27/23, shares of the company touched a low of $11.68 and a high of $37.39 in 52 weeks. It has reached a new high 10 times so far this year and achieved 25.23% or $4.65 in price. In spite of this, the price is down -38.27% 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 14 days ago on Sep 15. In this transaction, the insider spent $79,144. Chief Financial Officer, McDonough Claire, disposed of 3,625 shares at a price of $13.71 on Jun 08. The insider now owns more than $49,699 worth of shares. Prior to that, Chief Accounting Officer Baker Jeff went on to Sale 20,000 shares at $14.53 each on Jun 06. An amount of $290,600 was transacted.
Valuation Metrics
Rivian Automotive Inc (RIVN) stock’s beta is 2.01. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.32, the price-to-book (PB) ratio at 1.86.
Financial Health
The quick ratio of Rivian Automotive Inc for the three months ended June 29 was 4.71, and the current ratio was 5.66, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.26 and a total debt to equity ratio of 0.26 for the quarter ending June 29. Rivian Automotive Inc’s EBITDA margin for the year ending June 29 is -374.49%, while its operating margin for the same period stands at -210.90%. Its gross profit as reported stood at -$3.12 billion compared to revenue of $1.66 billion.
Earnings Surprise
For the three-month period that ended June 29, Rivian Automotive Inc had $2.72 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 -$1.2 billion in the quarter, while revenues of -$1.35 billion were shrunk -43.26%. The analyst consensus anticipated Rivian Automotive Inc’s latest quarter earnings to come in at -$1.41 per share, but it turned out to be -$1.08, a 23.40% surprise. For the quarter, EBITDA amounted to -$1.06 billion. Shareholders own equity worth $948.14 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 28 September was 55.84%, suggesting the stock is Neutral, with historical volatility in this time frame at 53.49%.
As of today, RIVN’s price is $22.02 +7.20% or $1.55 from its 5-day moving average. RIVN is currently trading +0.87% higher than its 20-day SMA and +72.11% higher than its 100-day SMA. However, the stock’s current price level is -7.05% below the SMA50 and -15.43% below the SMA200.
The stochastic %K and %D were 60.28% and 43.55%, respectively, and the average true range (ATR) was 1.22. With the 14-day stochastic at 66.45% and the average true range at 1.22, the RSI (14) stands at 53.57%. The stock has reached 0.52 on the 9-day MACD Oscillator while the 14-day reading was at 0.01.
Analyst Ratings
UBS launched coverage on Rivian Automotive Inc (NASDAQ: RIVN) in its analyst report released on September 13, 2023. The firm assigned the stock a Neutral rating. The consensus rating for Rivian Automotive Inc (RIVN) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RIVN, while 10 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 12 others rate it as a “buy”.
What is RIVN’s price target for the next 12 months?
Analysts predict a range of price targets between $15.00 and $44.00, with a median target of $29.50. Taking a look at these predictions, the average price target given by analysts for Rivian Automotive Inc (RIVN) stock is $28.36.
