Rivian Automotive Inc. [NASDAQ: RIVN] stock went on an upward path that rose over 7.63% on Friday, amounting to a one-week price decrease of less than -2.31%. The company report on February 28, 2023 that Rivian Releases Fourth Quarter and Full Year 2022 Financial Results.
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Rivian Automotive, Inc. (NASDAQ: RIVN) has today published a letter to its shareholders containing the company’s fourth quarter and full year 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, February 28. The live webcast will be available at https://edge.media-server.com/mmc/p/z8jemjnq and a replay will be available for four weeks at https://rivian.com/investors.
Over the last 12 months, RIVN stock dropped by -68.41%. The one-year Rivian Automotive Inc. stock forecast points to a potential upside of 47.7. The average equity rating for RIVN stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $14.57 billion, with 925.00 million shares outstanding and 801.37 million shares in the current float. Compared to the average trading volume of 25.49M shares, RIVN stock reached a trading volume of 47901923 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $32.35 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.
Needham have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 01, 2023. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on February 15, 2023, representing the official price target for Rivian Automotive Inc. stock. Previously, the target price had yet another drop from $65 to $50, while Truist kept a Buy rating on RIVN stock.
The Average True Range (ATR) for Rivian Automotive Inc. is set at 1.55, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 8.79. The Price to Book ratio for the last quarter was 1.13, with the Price to Cash per share for the same quarter was set at 13.43.
RIVN Stock Performance Analysis:
Rivian Automotive Inc. [RIVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.31. With this latest performance, RIVN shares dropped by -14.16% in over the last four-week period, additionally sinking by -48.27% over the last 6 months – not to mention a drop of -68.41% 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 42.64, with the RSI for the last a single of trading hit 41.68, and the three-weeks RSI is set at 42.86 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 18.42, while it was recorded at 17.23 for the last single week of trading, and 28.44 for the last 200 days.
Insight into Rivian Automotive Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Rivian Automotive Inc. [RIVN] shares currently have an operating margin of -413.51 and a Gross Margin at -199.03. Rivian Automotive Inc.’s Net Margin is presently recorded at -407.24.
Return on Equity for this stock declined to -40.54, with Return on Assets sitting at -33.62.
Rivian Automotive Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 5.40.
Rivian Automotive Inc. [RIVN] Insider Position Details
There are presently around $10,261 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 116,604,944 shares of the stock with an approximate value of $1.97 billion in RIVN stocks shares; and BLACKROCK INC., currently with $836.87 million in RIVN stock with ownership of nearly 6.226% of the company’s market capitalization.
Positions in Rivian Automotive Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 339 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 38,068,988 shares. Additionally, 267 investors decreased positions by around 61,303,188 shares, while 120 investors held positions by with 507,094,911 shares. The mentioned changes placed institutional holdings at 606,467,087 shares, according to the latest SEC report filing. RIVN stock had 144 new institutional investments in for a total of 8,479,053 shares, while 113 institutional investors sold positions of 6,759,037 shares during the same period.