Rivian Automotive Inc [NASDAQ: RIVN] stock went on a downward path that fall over -3.89% on Friday, amounting to a one-week price decrease of less than -5.35%. The company report on January 2, 2024 at 8:35 AM that Rivian Releases Q4 2023 and Full-Year 2023 Production Figures and Sets Date for Fourth Quarter and Full Year 2023 Results.
Rivian Automotive, Inc. (NASDAQ: RIVN) today announced production totals for the quarter and full-year ending December 31, 2023. The company produced 17,541 vehicles at its manufacturing facility in Normal, Illinois and delivered 13,972 vehicles during the same period.
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On a full-year 2023 basis, the company produced 57,232 vehicles and delivered 50,122. This exceeded management’s most recent full-year 2023 production guidance of 54,000 vehicles.
Over the last 12 months, RIVN stock rose by 5.74%. The one-year Rivian Automotive Inc stock forecast points to a potential upside of 29.84. The average equity rating for RIVN stock is currently 1.85, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $17.27 billion, with 918.00 million shares outstanding and 668.77 million shares in the current float. Compared to the average trading volume of 35.52M shares, RIVN stock reached a trading volume of 29590498 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 $25.74 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 1.85. 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.
Wolfe Research have made an estimate for Rivian Automotive Inc shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on January 04, 2024.
The Average True Range (ATR) for Rivian Automotive Inc is set at 1.06, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 4.57. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 9.55.
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 -5.35. With this latest performance, RIVN shares dropped by -0.82% in over the last four-week period, additionally sinking by -27.24% over the last 6 months – not to mention a rise of 5.74% 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 36.87, with the RSI for the last a single of trading hit 27.42, and the three-weeks RSI is set at 42.01 for Rivian Automotive Inc [RIVN]. The present Moving Average for the last 50 days of trading for this stock 18.99, while it was recorded at 18.95 for the last single week of trading, and 18.70 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 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.
Rivian Automotive Inc [RIVN] Institutonal Ownership Details
The top three institutional holders of RIVN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RIVN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RIVN stock with ownership which is approximately 5.8325%.
