Rivian Automotive Inc. [RIVN] Stock trading around $31.32 per share: What’s Next?

Rivian Automotive Inc. [NASDAQ: RIVN] slipped around -0.67 points on Monday, while shares priced at $31.32 at the close of the session, down -2.09%. The company report on October 6, 2022 that Rivian Sets Date for Release of Third Quarter 2022 Results.


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Rivian Automotive, Inc. (NASDAQ: RIVN) today announced that at 5:00pm ET after market close on November 9 (11.09.2022) the company will release its third quarter 2022 financial results.

Rivian will host an audio webcast at 5:00 p.m. ET the same day to discuss the performance and outlook for the business. The live webcast will be available here, and a replay will be available for four weeks at www.rivian.com/investors following the webcast.

Rivian Automotive Inc. stock is now -69.79% down from its year-to-date (YTD) trading value. RIVN Stock saw the intraday high of $32.9276 and lowest of $31.01 per share. The company’s 52-week high price is 179.47, which means current price is +62.70% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 16.99M shares, RIVN reached a trading volume of 7394872 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 $51.71 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.

Truist have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 29, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $75 to $62. The new note on the price target was released on September 28, 2022, representing the official price target for Rivian Automotive Inc. stock.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 2.37, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 58.31. 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 15.59.

How has RIVN stock performed recently?

Rivian Automotive Inc. [RIVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.44. With this latest performance, RIVN shares dropped by -7.75% in over the last four-week period, additionally plugging by 37.49% 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 43.50, with the RSI for the last a single of trading hit 40.42, and the three-weeks RSI is set at 45.10 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 33.91, while it was recorded at 32.11 for the last single week of trading, and 37.96 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Rivian Automotive Inc. [RIVN] shares currently have an operating margin of -7672.73 and a Gross Margin at -1203.64. Rivian Automotive Inc.’s Net Margin is presently recorded at -8523.64.

Return on Equity for this stock declined to -40.11, with Return on Assets sitting at -34.86.

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 $17,913 million, or 64.20% 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 $4.43 billion in RIVN stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $1.41 billion in RIVN stock with ownership of nearly 44.568% of the company’s market capitalization.

Positions in Rivian Automotive Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 348 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 58,898,172 shares. Additionally, 186 investors decreased positions by around 65,453,324 shares, while 123 investors held positions by with 447,589,869 shares. The mentioned changes placed institutional holdings at 571,941,365 shares, according to the latest SEC report filing. RIVN stock had 145 new institutional investments in for a total of 15,452,784 shares, while 94 institutional investors sold positions of 9,004,441 shares during the same period.

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