Robert W. Baird lifts Rivian Automotive Inc. [RIVN] price estimate. Who else is bullish?


Rivian Automotive Inc. [NASDAQ: RIVN] gained 8.24% or 3.47 points to close at $45.60 with a heavy trading volume of 19715182 shares. The company report on March 14, 2022 that Rivian Hires Frank Klein as Chief Operations Officer.

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Rivian Automotive, Inc. (NASDAQ: RIVN) (“Rivian”) today announced the hiring of Frank Klein as Chief Operations Officer, effective June 1st, 2022. Frank most recently held the position of President at Austria-based automotive contract manufacturer Magna Steyr, a subsidiary of Canadian-based Magna International. He will be based in Normal, IL, and will report directly to Rivian’s Chief Executive Officer, RJ Scaringe. Klein succeeds Rod Copes, who retired from the position last year.

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If we look at the average trading volume of 18.69M shares, RIVN reached to a volume of 19715182 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Rivian Automotive Inc. [RIVN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIVN shares is $88.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIVN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Robert W. Baird have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 04, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $165 to $116. The new note on the price target was released on March 02, 2022, representing the official price target for Rivian Automotive Inc. stock.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 5.29, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 689.65.

Trading performance analysis for RIVN stock

Rivian Automotive Inc. [RIVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.84.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RIVN stock in for the last two-week period is set at 42.40, with the RSI for the last a single of trading hit 47.10, and the three-weeks RSI is set at 41.20 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 60.90, while it was recorded at 40.43 for the last single week of trading.

Rivian Automotive Inc. [RIVN]: A deeper dive into fundamental analysis

Rivian Automotive Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.10.

An analysis of insider ownership at Rivian Automotive Inc. [RIVN]

There are presently around $26,939 million, or 66.40% of RIVN stock, in the hands of institutional investors. The top three institutional holders of RIVN stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 162,080,423, which is approximately New of the company’s market cap and around 11.50% of the total institutional ownership; AMAZON COM INC, holding 158,363,834 shares of the stock with an approximate value of $7.22 billion in RIVN stocks shares; and COATUE MANAGEMENT LLC, currently with $1.61 billion in RIVN stock with ownership of nearly New of the company’s market capitalization.

500 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 590,757,021 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 590,757,021 shares, according to the latest SEC report filing. RIVN stock had 500 new institutional investments in for a total of 590,757,021 shares, while 0 institutional investors sold positions of 0 shares during the same period.