Market Analysts see Rivian Automotive Inc. [RIVN] gaining to $35. Time to buy?

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Rivian Automotive Inc. [NASDAQ: RIVN] traded at a low on 04/29/22, posting a -6.03 loss after which it closed the day’ session at $30.24. The company report on April 28, 2022 that Rivian and Clearloop Partner on Solar Project That Carves a New Path for More Impactful Corporate Renewable Procurement.

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Rivian and Nashville-based Clearloop are partnering to bring online Rivian’s first megawatt of renewable electricity in a uniquely impactful way. Their approach brings solar energy to a part of the country where new renewable development can help to maximize system-wide carbon reductions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220428005699/en/.

The results of the trading session contributed to over 12835541 shares changing hands. Over the past one week, the price volatility of Rivian Automotive Inc. stands at 8.96% while the volatility over the past one month is 8.85%.

The market cap for RIVN stock reached $28.98 billion, with 883.40 million shares outstanding and 481.53 million shares in the current float. Compared to the average trading volume of 18.21M shares, RIVN reached a trading volume of 12835541 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $79.43 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.

Exane BNP Paribas have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on April 11, 2022. While these analysts kept the previous recommendation, Robert W. Baird dropped their target price from $150 to $100. The new note on the price target was released on March 04, 2022, representing the official price target for Rivian Automotive Inc. stock. Previously, the target price had yet another drop from $165 to $116, while RBC Capital Mkts kept a Outperform rating on RIVN stock.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 3.48, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 526.95. The Price to Book ratio for the last quarter was 0.32, with the Price to Cash per share for the same quarter was set at 18.92.

How has RIVN stock performed recently?

Rivian Automotive Inc. [RIVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.03.

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 31.75, with the RSI for the last a single of trading hit 27.59, and the three-weeks RSI is set at 34.73 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 45.11, while it was recorded at 31.64 for the last single week of trading.

Rivian Automotive Inc. [RIVN]: Deeper insight into the fundamentals

Rivian Automotive Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.90 and a Current Ratio set at 14.10.

Insider trade positions for Rivian Automotive Inc. [RIVN]

There are presently around $17,866 million, or 66.60% 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 $4.79 billion in RIVN stocks shares; and COATUE MANAGEMENT LLC, currently with $1.07 billion in RIVN stock with ownership of nearly New of the company’s market capitalization.

460 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 584,237,287 shares. Additionally, 55 investors decreased positions by around 703,731 shares, while 23 investors held positions by with 5,875,614 shares. The mentioned changes placed institutional holdings at 590,816,632 shares, according to the latest SEC report filing. RIVN stock had 425 new institutional investments in for a total of 583,692,290 shares, while 47 institutional investors sold positions of 702,172 shares during the same period.