Market cap of Rivian Automotive Inc. [RIVN] reaches 14.54B – now what?

Rivian Automotive Inc. [NASDAQ: RIVN] gained 2.79% or 0.44 points to close at $16.23 with a heavy trading volume of 23612585 shares. The company report on January 9, 2023 that Rivian Sets Date for Release of Fourth Quarter and Full Year 2022 Results.

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Rivian Automotive, Inc. (NASDAQ: RIVN) today announced that on February 28th, after market close, the company will release its fourth quarter and full year 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.

It opened the trading session at $15.99, the shares rose to $16.51 and dropped to $15.545, the range by which the price of stock traded the whole day. The daily chart for RIVN points out that the company has recorded -52.45% loss over the past six months. However, it is still -6.22% lower than its most recent low trading price.

If we look at the average trading volume of 17.31M shares, RIVN reached to a volume of 23612585 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 $40.00 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.

Truist have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 04, 2023. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on December 20, 2022, representing the official price target for Rivian Automotive Inc. stock. Previously, the target price had yet another raise to $35, while Evercore ISI analysts kept a In-line rating on RIVN stock.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 1.36, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 13.86. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 14.81.

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 -7.68. With this latest performance, RIVN shares dropped by -26.33% in over the last four-week period, additionally sinking by -52.45% over the last 6 months – not to mention a drop of -76.61% 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 31.79, with the RSI for the last a single of trading hit 34.25, and the three-weeks RSI is set at 32.35 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 24.37, while it was recorded at 16.38 for the last single week of trading, and 30.48 for the last 200 days.

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

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.

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

There are presently around $10,194 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 $2.28 billion in RIVN stocks shares; and BLACKROCK INC., currently with $755.7 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 February and at the time of the February reporting period, where 354 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 81,877,277 shares. Additionally, 177 investors decreased positions by around 22,253,398 shares, while 134 investors held positions by with 523,981,790 shares. The mentioned changes placed institutional holdings at 628,112,465 shares, according to the latest SEC report filing. RIVN stock had 118 new institutional investments in for a total of 16,055,621 shares, while 69 institutional investors sold positions of 5,711,232 shares during the same period.

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