Rivian Automotive Inc [NASDAQ: RIVN] traded at a high on 11/10/23, posting a 0.46 gain after which it closed the day’ session at $15.40. The company report on November 7, 2023 at 4:10 PM that Rivian Releases Third Quarter 2023 Financial Results.
Rivian Automotive, Inc. (NASDAQ: RIVN) has today published a letter to its shareholders containing the company’s third quarter 2023 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, November 7. The live webcast will be available at https://edge.media-server.com/mmc/p/ezvx5qiz/ and a replay will be available for four weeks at https://rivian.com/investors.
The results of the trading session contributed to over 48534497 shares changing hands. Over the past one week, the price volatility of Rivian Automotive Inc stands at 8.92% while the volatility over the past one month is 6.41%.
The market cap for RIVN stock reached $14.72 billion, with 918.00 million shares outstanding and 665.94 million shares in the current float. Compared to the average trading volume of 35.91M shares, RIVN reached a trading volume of 48534497 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 $26.62 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 1.83. 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 October 27, 2023.
The Average True Range (ATR) for Rivian Automotive Inc is set at 1.24, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 3.89. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 9.55.
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 -13.04. With this latest performance, RIVN shares dropped by -20.33% in over the last four-week period, additionally plugging by 19.29% over the last 6 months – not to mention a drop of -45.14% 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 35.13, with the RSI for the last a single of trading hit 32.47, and the three-weeks RSI is set at 37.27 for Rivian Automotive Inc [RIVN]. The present Moving Average for the last 50 days of trading for this stock 20.07, while it was recorded at 16.47 for the last single week of trading, and 18.18 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 -37.20. 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 11.67. Additionally, RIVN Total Debt to Total Capital is recorded at 10.45, with Total Debt to Total Assets ending up at 9.01. Long-Term Debt to Equity for the company is recorded at 11.17, with the Long-Term Debt to Total Capital now at 10.01.
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 3.64 and a Current Ratio set at 4.61.
Insider trade positions for Rivian Automotive Inc [RIVN]
The top three institutional holders of RIVN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in RIVN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in RIVN stock with ownership which is approximately 5.7994%.