Rivian Automotive Inc. [RIVN] is -62.14% lower this YTD. Is it still time to buy?

Rivian Automotive Inc. [NASDAQ: RIVN] traded at a low on 09/16/22, posting a -1.08 loss after which it closed the day’ session at $39.26. The company report on September 12, 2022 that Rivian to Participate in the Goldman Sachs Communacopia + Technology Conference.

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Rivian (NASDAQ: RIVN) has today announced that on Wednesday September 14, 2022 at 11:15am EST Rivian’s founder, Chairman and CEO RJ Scaringe will participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference 2022.

The results of the trading session contributed to over 70213684 shares changing hands. Over the past one week, the price volatility of Rivian Automotive Inc. stands at 5.37% while the volatility over the past one month is 5.37%.

The market cap for RIVN stock reached $36.36 billion, with 908.00 million shares outstanding and 796.62 million shares in the current float. Compared to the average trading volume of 16.65M shares, RIVN reached a trading volume of 70213684 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 $53.20 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.

Needham have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 15, 2022. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on July 13, 2022, representing the official price target for Rivian Automotive Inc. stock. Previously, the target price had yet another raise to $24, while DA Davidson analysts kept a Underperform rating on RIVN stock.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 2.11, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 70.75. The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 16.11.

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 4.55. With this latest performance, RIVN shares gained by 7.80% in over the last four-week period, additionally sinking by -6.81% 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 66.11, with the RSI for the last a single of trading hit 70.97, and the three-weeks RSI is set at 62.50 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 34.48, while it was recorded at 39.31 for the last single week of trading, and 49.59 for the last 200 days.

Rivian Automotive Inc. [RIVN]: Deeper insight into the 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.

Insider trade positions for Rivian Automotive Inc. [RIVN]

There are presently around $22,414 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 $5.56 billion in RIVN stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $1.76 billion in RIVN stock with ownership of nearly 44.568% of the company’s market capitalization.

367 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 58,822,356 shares. Additionally, 191 investors decreased positions by around 68,506,209 shares, while 102 investors held positions by with 443,587,354 shares. The mentioned changes placed institutional holdings at 570,915,919 shares, according to the latest SEC report filing. RIVN stock had 176 new institutional investments in for a total of 16,152,404 shares, while 108 institutional investors sold positions of 9,093,361 shares during the same period.


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