Rivian Automotive Inc. [RIVN] Revenue clocked in at $55.00 million, down -72.23% YTD: What’s Next?

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Rivian Automotive Inc. [NASDAQ: RIVN] price plunged by -6.25 percent to reach at -$1.92. 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/.

A sum of 20409541 shares traded at recent session while its average daily volume was at 17.89M shares. Rivian Automotive Inc. shares reached a high of $31.045 and dropped to a low of $28.71 until finishing in the latest session at $28.79.

The one-year RIVN stock forecast points to a potential upside of 63.75. The average equity rating for RIVN stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 3.31, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 502.87. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 18.88.

RIVN Stock Performance Analysis:

Rivian Automotive Inc. [RIVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.79.

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 33.60, with the RSI for the last a single of trading hit 31.38, and the three-weeks RSI is set at 35.58 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 41.96, while it was recorded at 31.43 for the last single week of trading.

Insight into Rivian Automotive Inc. 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.

Rivian Automotive Inc. [RIVN] Insider Position Details

There are presently around $17,031 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 $4.56 billion in RIVN stocks shares; and COATUE MANAGEMENT LLC, currently with $1.01 billion in RIVN stock with ownership of nearly New of the company’s market capitalization.

441 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 422,159,671 shares. Additionally, 72 investors decreased positions by around 772,372 shares, while 43 investors held positions by with 168,613,386 shares. The mentioned changes placed institutional holdings at 591,545,429 shares, according to the latest SEC report filing. RIVN stock had 374 new institutional investments in for a total of 420,886,334 shares, while 60 institutional investors sold positions of 733,101 shares during the same period.