For Rivian Automotive Inc. [RIVN], Analyst sees a rise to $61. What next?


Rivian Automotive Inc. [NASDAQ: RIVN] closed the trading session at $34.30 on 07/29/22. The day’s price range saw the stock hit a low of $32.94, while the highest price level was $34.365. The company report on July 11, 2022 that Rivian Sets Date for Release of Second Quarter 2022 Results.

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Rivian Automotive, Inc. (NASDAQ: RIVN) today announced its second quarter 2022 financial results will be released on August 11, 2022, after market close.

Rivian will host an audio webcast to discuss its results and provide a business update at 2:00 p.m. PT / 5:00 p.m. ET the same day. The live webcast will be available here, and a replay will be available for four weeks at following the webcast.

The stocks have a year to date performance of -66.92 percent and weekly performance of 5.60 percent. The stock has been moved at -36.41 percent over the last six months. The stock has performed 30.57 percent around the most recent 30 days and changed 6.59 percent over the most recent 3-months.

If compared to the average trading volume of 20.42M shares, RIVN reached to a volume of 12344476 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $60.31 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.

Canaccord Genuity have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 13, 2022. While these analysts kept the previous recommendation, DA Davidson raised their target price to Underperform. The new note on the price target was released on June 02, 2022, representing the official price target for Rivian Automotive Inc. stock. Previously, the target price had yet another raise to $26, while Exane BNP Paribas analysts kept a Neutral rating on RIVN stock.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 1.94, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 192.20. The Price to Book ratio for the last quarter was 1.69, with the Price to Cash per share for the same quarter was set at 19.55.

RIVN stock trade performance evaluation

Rivian Automotive Inc. [RIVN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.60. With this latest performance, RIVN shares gained by 30.57% in over the last four-week period, additionally sinking by -36.41% 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 63.09, with the RSI for the last a single of trading hit 68.05, and the three-weeks RSI is set at 58.34 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 29.66, while it was recorded at 32.80 for the last single week of trading.

Rivian Automotive Inc. [RIVN]: An insightful look at the core 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 Ownership positions

There are presently around $19,928 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 162,796,212, 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 $5.43 billion in RIVN stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $1.07 billion in RIVN stock with ownership of nearly 20.65% of the company’s market capitalization.

348 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 20,200,878 shares. Additionally, 214 investors decreased positions by around 28,310,686 shares, while 94 investors held positions by with 532,474,830 shares. The mentioned changes placed institutional holdings at 580,986,394 shares, according to the latest SEC report filing. RIVN stock had 161 new institutional investments in for a total of 6,777,000 shares, while 136 institutional investors sold positions of 5,700,621 shares during the same period.