Rivian Automotive Inc [RIVN] moved up 1.93: Why It’s Important

Rivian Automotive Inc [NASDAQ: RIVN] closed the trading session at $15.29. 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.

The stocks have a year to date performance of -34.83 percent and weekly performance of -1.23 percent. The stock has been moved at -41.31 percent over the last six months. The stock has performed -35.18 percent around the most recent 30 days and changed -10.16 percent over the most recent 3-months.

If compared to the average trading volume of 36.37M shares, RIVN reached to a volume of 25576494 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $24.74 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 1.93. 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.

Deutsche Bank have made an estimate for Rivian Automotive Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 17, 2024.

The Average True Range (ATR) for Rivian Automotive Inc is set at 1.05, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 3.86. The Price to Book ratio for the last quarter was 1.39, with the Price to Cash per share for the same quarter was set at 9.55.

RIVN stock trade performance evaluation

Rivian Automotive Inc [RIVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.23. With this latest performance, RIVN shares dropped by -35.18% in over the last four-week period, additionally sinking by -41.31% over the last 6 months – not to mention a drop of -18.19% 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 30.55, with the RSI for the last a single of trading hit 25.20, and the three-weeks RSI is set at 35.50 for Rivian Automotive Inc [RIVN]. The present Moving Average for the last 50 days of trading for this stock 18.86, while it was recorded at 15.54 for the last single week of trading, and 18.75 for the last 200 days.

Rivian Automotive Inc [RIVN]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for Rivian Automotive Inc [RIVN] stock

With the latest financial reports released by the company, Rivian Automotive Inc posted -1.73/share EPS, while the average EPS was predicted by analysts to be reported at -1.94/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIVN.

Rivian Automotive Inc [RIVN]: Institutional Ownership

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%.