Rivian Automotive Inc. [RIVN] Revenue clocked in at $1.05 billion, down -82.23% YTD: What’s Next?

Rivian Automotive Inc. [NASDAQ: RIVN] plunged by -$0.3 during the normal trading session on Friday and reaching a high of $18.5781 during the day while it closed the day at $18.43. The company report on December 12, 2022 that Rivian Pauses Partnership Discussions With Mercedes-Benz on Electric Van Production in Europe.

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Rivian to prioritize its current consumer product development roadmap and manufacturing capacity expansion as well as its commercial business.

Electric vehicle manufacturer Rivian has today announced it is pausing plans to produce its electric commercial vans in Europe and will therefore no longer pursue the Memorandum of Understanding with Mercedes-Benz. This Memorandum of Understanding was signed in September 2022.

Rivian Automotive Inc. stock has also loss -6.59% of its value over the past 7 days. However, RIVN stock has declined by -44.00% in the 3 months of the year. Over the past six months meanwhile, it has lost -28.29% and lost -82.23% year-on date.

The market cap for RIVN stock reached $17.25 billion, with 918.00 million shares outstanding and 801.37 million shares in the current float. Compared to the average trading volume of 15.45M shares, RIVN reached a trading volume of 17116001 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 $44.68 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.

Cantor Fitzgerald have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 20, 2022. While these analysts kept the previous recommendation, Evercore ISI raised their target price to In-line. The new note on the price target was released on November 30, 2022, representing the official price target for Rivian Automotive Inc. stock. Previously, the target price had yet another raise to $65, while Truist analysts kept a Buy rating on RIVN stock. On September 28, 2022, analysts decreased their price target for RIVN shares from 75 to 62.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 1.43, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 16.44. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 14.18.

RIVN stock trade performance evaluation

Rivian Automotive Inc. [RIVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.59. With this latest performance, RIVN shares dropped by -42.48% in over the last four-week period, additionally sinking by -28.29% over the last 6 months – not to mention a drop of -82.18% in the past year of trading.

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 25.43, with the RSI for the last a single of trading hit 21.84, and the three-weeks RSI is set at 29.62 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 28.56, while it was recorded at 18.36 for the last single week of trading, and 32.47 for the last 200 days.

Rivian Automotive Inc. [RIVN]: An insightful look at the core 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 6.40 and a Current Ratio set at 6.80.

Rivian Automotive Inc. [RIVN]: Insider Ownership positions

There are presently around $11,572 million, or 69.40% 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 0.10% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 140,632,372 shares of the stock with an approximate value of $2.59 billion in RIVN stocks shares; and BLACKROCK INC., currently with $858.13 million in RIVN stock with ownership of nearly 44.705% of the company’s market capitalization.

Positions in Rivian Automotive Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 353 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 81,834,509 shares. Additionally, 169 investors decreased positions by around 22,753,597 shares, while 136 investors held positions by with 523,312,611 shares. The mentioned changes placed institutional holdings at 627,900,717 shares, according to the latest SEC report filing. RIVN stock had 116 new institutional investments in for a total of 15,901,387 shares, while 72 institutional investors sold positions of 5,699,028 shares during the same period.


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