Rivian Automotive Inc. [RIVN] stock Resumed by BofA Securities analyst, price target now $40

Rivian Automotive Inc. [NASDAQ: RIVN] slipped around -0.16 points on Thursday, while shares priced at $14.47 at the close of the session, down -1.09%. The company report on April 6, 2023 that Rivian Hires Martin Huelder as Vice President, Commercial – Europe.

Rivian Automotive, Inc. (NASDAQ: RIVN) today announced it has hired Martin Huelder as Vice President for its commercial division in Europe. Huelder joins Rivian from Mercedes Benz, where he has been for nearly 30 years.

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Huelder joined Mercedes-Benz in 1995 and has held several positions at the company. Most recently he was Head of Data Driven Sales and Retail Development. Prior to that, Huelder was Director of Product Management for Large Cars including the S, E, C, GLC and EQC classes. At Rivian, Huelder will oversee the company’s European commercial and go-to-market strategy.

Rivian Automotive Inc. stock is now -21.49% down from its year-to-date (YTD) trading value. RIVN Stock saw the intraday high of $14.81 and lowest of $14.31 per share. The company’s 52-week high price is 43.35, which means current price is +15.02% above from all time high which was touched on 02/02/23.

Compared to the average trading volume of 31.89M shares, RIVN reached a trading volume of 14698699 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 $31.75 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.

BofA Securities have made an estimate for Rivian Automotive Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 10, 2023. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on March 01, 2023, representing the official price target for Rivian Automotive Inc. stock. Previously, the target price had yet another raise to $28, while Barclays analysts kept a Overweight rating on RIVN stock. On January 04, 2023, analysts decreased their price target for RIVN shares from 65 to 50.

The Average True Range (ATR) for Rivian Automotive Inc. is set at 0.98, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 8.18. 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 12.34.

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 0.49. With this latest performance, RIVN shares dropped by -4.36% in over the last four-week period, additionally sinking by -59.95% over the last 6 months – not to mention a drop of -65.70% 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 46.45, with the RSI for the last a single of trading hit 49.04, and the three-weeks RSI is set at 44.64 for Rivian Automotive Inc. [RIVN]. The present Moving Average for the last 50 days of trading for this stock 16.68, while it was recorded at 15.04 for the last single week of trading, and 26.69 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 -413.51 and a Gross Margin at -199.03. Rivian Automotive Inc.’s Net Margin is presently recorded at -407.24.

Return on Total Capital for RIVN is now -37.66, given the latest momentum, and Return on Invested Capital for the company is -37.41. Return on Equity for this stock declined to -40.54, with Return on Assets sitting at -33.62. When it comes to the capital structure of this company, Rivian Automotive Inc. [RIVN] has a Total Debt to Total Equity ratio set at 10.22. Additionally, RIVN Total Debt to Total Capital is recorded at 9.27, with Total Debt to Total Assets ending up at 9.01. Long-Term Debt to Equity for the company is recorded at 9.73, with the Long-Term Debt to Total Capital now at 8.82.

Reflecting on the efficiency of the workforce at the company, Rivian Automotive Inc. [RIVN] managed to generate an average of -$478,119 per employee. Receivables Turnover for the company is 25.91 with a Total Asset Turnover recorded at a value of 0.08.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.

Insider trade positions for Rivian Automotive Inc. [RIVN]

There are presently around $8,761 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 $1.69 billion in RIVN stocks shares; and BLACKROCK INC., currently with $715.69 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 335 institutional holders increased their position in Rivian Automotive Inc. [NASDAQ:RIVN] by around 38,614,023 shares. Additionally, 264 investors decreased positions by around 61,265,588 shares, while 119 investors held positions by with 505,573,299 shares. The mentioned changes placed institutional holdings at 605,452,910 shares, according to the latest SEC report filing. RIVN stock had 139 new institutional investments in for a total of 9,098,612 shares, while 111 institutional investors sold positions of 6,721,887 shares during the same period.


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