Rivian Automotive Inc. [RIVN] fell -69.07% so far this year. What now?

Rivian Automotive Inc. [NASDAQ: RIVN] gained 0.38% on the last trading session, reaching $32.07 price per share at the time. 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.

Rivian Automotive Inc. represents 908.00 million in outstanding shares, while the company has a total market value of $29.27 billion with the latest information. RIVN stock price has been found in the range of $30.90 to $32.56.

If compared to the average trading volume of 15.42M shares, RIVN reached a trading volume of 8838499 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $59.06 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 1.85, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 56.95. The Price to Book ratio for the last quarter was 1.73, with the Price to Cash per share for the same quarter was set at 16.35.

Trading performance analysis for RIVN stock

Rivian Automotive Inc. [RIVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.12. With this latest performance, RIVN shares dropped by -11.36% in over the last four-week period, additionally sinking by -32.33% 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 42.75, with the RSI for the last a single of trading hit 38.22, and the three-weeks RSI is set at 45.93 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 32.75, while it was recorded at 32.19 for the last single week of trading, and 53.41 for the last 200 days.

Rivian Automotive Inc. [RIVN]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Rivian Automotive Inc. [RIVN]

There are presently around $18,309 million, or 64.30% of RIVN stock, in the hands of institutional investors. The top three institutional holders of RIVN stocks are: AMAZON COM INC with ownership of 158,363,834, which is approximately 0% of the company’s market cap and around 9.70% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 141,564,738 shares of the stock with an approximate value of $4.54 billion in RIVN stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $1.44 billion in RIVN stock with ownership of nearly 44.568% of the company’s market capitalization.

366 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 58,814,476 shares. Additionally, 193 investors decreased positions by around 68,513,404 shares, while 101 investors held positions by with 443,567,187 shares. The mentioned changes placed institutional holdings at 570,895,067 shares, according to the latest SEC report filing. RIVN stock had 175 new institutional investments in for a total of 16,144,524 shares, while 110 institutional investors sold positions of 9,100,556 shares during the same period.


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