Rivian Automotive Inc [RIVN] Stock trading around $10.07 per share: What’s Next?

Rivian Automotive Inc [NASDAQ: RIVN] traded at a low on Friday, posting a -12.05 loss after which it closed the day’ session at $10.07. The company report on February 22, 2024 at 2:02 PM that CORRECTING and REPLACING: Rivian Releases Fourth Quarter and Full Year 2023 Financial Results.

Company Exceeded All Aspects of 2023 Guidance.

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The results of the trading session contributed to over 122970805 shares changing hands. Over the past one week, the price volatility of Rivian Automotive Inc stands at 7.44% while the volatility over the past one month is 5.48%.

The market cap for RIVN stock reached $9.63 billion, with 918.00 million shares outstanding and 668.80 million shares in the current float. Compared to the average trading volume of 36.43M shares, RIVN reached a trading volume of 122970805 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 $18.65 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 2.25. 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.

UBS have made an estimate for Rivian Automotive Inc shares, keeping their opinion on the stock as Sell, with their previous recommendation back on February 23, 2024. The new note on the price target was released on February 22, 2024, representing the official price target for Rivian Automotive Inc stock. Previously, the target price had yet another drop from $25 to $16, while Barclays kept a Equal Weight rating on RIVN stock. On January 17, 2024, analysts decreased their price target for RIVN shares from 29 to 19.

The Average True Range (ATR) for Rivian Automotive Inc is set at 1.18, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 2.17. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 9.80.

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 -38.41. With this latest performance, RIVN shares dropped by -34.35% in over the last four-week period, additionally sinking by -50.44% over the last 6 months – not to mention a drop of -47.06% 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 22.80, with the RSI for the last a single of trading hit 17.19, and the three-weeks RSI is set at 27.39 for Rivian Automotive Inc [RIVN]. The present Moving Average for the last 50 days of trading for this stock 18.06, while it was recorded at 13.82 for the last single week of trading, and 18.97 for the last 200 days.

Rivian Automotive Inc [RIVN]: Deeper insight into the fundamentals

Rivian Automotive Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.90 and a Current Ratio set at 4.95.

Earnings analysis for Rivian Automotive Inc [RIVN]

With the latest financial reports released by the company, Rivian Automotive Inc posted -1.25/share EPS, while the average EPS was predicted by analysts to be reported at -1.59/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.40%. 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.

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 8.2815%. 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%.