Rivian Automotive Inc. [NASDAQ: RIVN] closed the trading session at $38.90 on 08/12/22. The day’s price range saw the stock hit a low of $37.30, while the highest price level was $40.56. The company report on August 11, 2022 that Rivian Releases Second Quarter 2022 Financial Results.
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Rivian Automotive, Inc. (NASDAQ: RIVN) has today published a letter to its shareholders containing the company’s second quarter 2022 financial results. The letter is available on its investor relations website (https://rivian.com/investors).
Rivian will host an audio webcast to discuss its results and provide a business update at 2:00pm PT / 5:00pm ET today, August 11. The live webcast will be available at https://edge.media-server.com/mmc/p/u9cwos3y and a replay will be available for four weeks at https://rivian.com/investors.
The stocks have a year to date performance of -62.48 percent and weekly performance of 9.06 percent. The stock has been moved at -39.89 percent over the last six months. The stock has performed 26.18 percent around the most recent 30 days and changed 60.08 percent over the most recent 3-months.
If compared to the average trading volume of 18.40M shares, RIVN reached to a volume of 37777966 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 $58.44 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 2.10. 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 2.08, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 233.87. The Price to Book ratio for the last quarter was 2.09, with the Price to Cash per share for the same quarter was set at 16.55.
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 9.06. With this latest performance, RIVN shares gained by 26.18% in over the last four-week period, additionally sinking by -39.89% 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 69.08, with the RSI for the last a single of trading hit 72.58, and the three-weeks RSI is set at 64.48 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 31.24, while it was recorded at 38.01 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 8.60 and a Current Ratio set at 9.00.
Rivian Automotive Inc. [RIVN]: Insider Ownership positions
There are presently around $23,103 million, or 65.90% 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 $6.16 billion in RIVN stocks shares; and BLACKROCK INC., currently with $1.25 billion in RIVN stock with ownership of nearly 8.022% of the company’s market capitalization.
355 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 41,786,725 shares. Additionally, 206 investors decreased positions by around 32,989,040 shares, while 107 investors held positions by with 519,125,568 shares. The mentioned changes placed institutional holdings at 593,901,333 shares, according to the latest SEC report filing. RIVN stock had 173 new institutional investments in for a total of 10,549,622 shares, while 118 institutional investors sold positions of 6,980,339 shares during the same period.