Rivian Automotive Inc. [RIVN] fell -69.15% so far this year. What now?



Rivian Automotive Inc. [NASDAQ: RIVN] stock went on an upward path that rose over 1.14% on Friday, amounting to a one-week price increase of more than 24.28%. The company report on July 6, 2022 that Rivian Produced 4,401 Vehicles in Q2 2022.

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Rivian Automotive, Inc. (NASDAQ: RIVN) today announced production totals for the quarter ending June 30, 2022. The company produced 4,401 vehicles at its manufacturing facility in Normal, Illinois and delivered 4,467 vehicles during the same period.

These figures remain in line with the company’s expectations, and it believes it is on track to deliver on the 25,000 annual production guidance previously provided.

The one-year Rivian Automotive Inc. stock forecast points to a potential upside of 45.32. The average equity rating for RIVN stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $28.49 billion, with 901.00 million shares outstanding and 781.18 million shares in the current float. Compared to the average trading volume of 20.37M shares, RIVN stock reached a trading volume of 19951388 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $58.50 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 2.27, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 189.92. The Price to Book ratio for the last quarter was 1.58, with the Price to Cash per share for the same quarter was set at 18.45.

RIVN Stock Performance Analysis:

Rivian Automotive Inc. [RIVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.28. With this latest performance, RIVN shares gained by 7.64% in over the last four-week period, additionally sinking by -64.46% 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 60.14, with the RSI for the last a single of trading hit 68.06, and the three-weeks RSI is set at 54.61 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 28.47, while it was recorded at 29.17 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 10.90 and a Current Ratio set at 11.20.

Rivian Automotive Inc. [RIVN] Insider Position Details

There are presently around $18,647 million, or 65.70% 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 $5.07 billion in RIVN stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $994.07 million in RIVN stock with ownership of nearly 20.65% of the company’s market capitalization.

336 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 19,859,804 shares. Additionally, 223 investors decreased positions by around 25,725,111 shares, while 84 investors held positions by with 537,314,778 shares. The mentioned changes placed institutional holdings at 582,899,693 shares, according to the latest SEC report filing. RIVN stock had 148 new institutional investments in for a total of 5,816,660 shares, while 152 institutional investors sold positions of 6,105,230 shares during the same period.