Rivian Automotive Inc. [RIVN] is -71.55% lower this YTD. Is it still time to buy?


Rivian Automotive Inc. [NASDAQ: RIVN] traded at a high on 06/24/22, posting a 0.10 gain after which it closed the day’ session at $29.50. The company report on June 17, 2022 that Wind Turbine Planned for Rivian’s Normal Plant to Deliver Vehicles Charged with On-site Renewables.

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Rivian today announced plans for a large-scale wind turbine at its Normal manufacturing campus that is intended to provide clean energy to enable new R1 vehicles to be powered by renewables for their first charge.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220617005095/en/.

The results of the trading session contributed to over 22012598 shares changing hands. Over the past one week, the price volatility of Rivian Automotive Inc. stands at 7.59% while the volatility over the past one month is 8.06%.

The market cap for RIVN stock reached $26.54 billion, with 901.00 million shares outstanding and 741.92 million shares in the current float. Compared to the average trading volume of 20.26M shares, RIVN reached a trading volume of 22012598 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 $57.88 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 2.20. 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.

DA Davidson have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on June 02, 2022. The new note on the price target was released on May 12, 2022, representing the official price target for Rivian Automotive Inc. stock. Previously, the target price had yet another raise to $35, while Exane BNP Paribas analysts kept a Underperform rating on RIVN stock. On March 04, 2022, analysts decreased their price target for RIVN shares from 150 to 100.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 2.41, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 176.95. The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 18.26.

How has RIVN stock performed recently?

Rivian Automotive Inc. [RIVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.66. With this latest performance, RIVN shares gained by 11.19% in over the last four-week period, additionally sinking by -69.38% over the last 6 months.

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 51.06, with the RSI for the last a single of trading hit 54.69, and the three-weeks RSI is set at 48.15 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 29.95, while it was recorded at 28.57 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 10.90 and a Current Ratio set at 11.20.

Insider trade positions for Rivian Automotive Inc. [RIVN]

There are presently around $17,190 million, or 65.60% 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 162,796,212, which is approximately 0.442% of the company’s market cap and around 9.80% of the total institutional ownership; AMAZON COM INC, holding 158,363,834 shares of the stock with an approximate value of $4.67 billion in RIVN stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $916.7 million in RIVN stock with ownership of nearly 20.65% of the company’s market capitalization.

338 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 19,696,853 shares. Additionally, 223 investors decreased positions by around 25,721,183 shares, while 81 investors held positions by with 537,279,441 shares. The mentioned changes placed institutional holdings at 582,697,477 shares, according to the latest SEC report filing. RIVN stock had 150 new institutional investments in for a total of 5,745,452 shares, while 153 institutional investors sold positions of 6,101,392 shares during the same period.