Rivian Automotive Inc [NASDAQ: RIVN] price plunged by -5.23 percent to reach at -$0.77.
The one-year RIVN stock forecast points to a potential upside of 20.65. The average equity rating for RIVN stock is currently 2.14, trading closer to a bullish pattern in the stock market.
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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 $17.58 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 2.14. 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.
Needham have made an estimate for Rivian Automotive Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 28, 2024. While these analysts kept the previous recommendation, Wedbush raised their target price from $15 to $20. The new note on the price target was released on June 26, 2024, representing the official price target for Rivian Automotive Inc stock. Previously, the target price had yet another raise from $15 to $19, while Cantor Fitzgerald kept a Overweight rating on RIVN stock.
The Average True Range (ATR) for Rivian Automotive Inc is set at 1.11, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 2.77. The Price to Book ratio for the last quarter was 2.06, with the Price to Cash per share for the same quarter was set at 7.90.
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 -5.23. With this latest performance, RIVN shares dropped by -16.77% in over the last four-week period, additionally sinking by -13.41% over the last 6 months – not to mention a drop of -37.58% 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 41.42, with the RSI for the last a single of trading hit 35.41, and the three-weeks RSI is set at 46.01 for Rivian Automotive Inc [RIVN]. The present Moving Average for the last 50 days of trading for this stock 14.12, while it was recorded at 14.37 for the last single week of trading, and 14.36 for the last 200 days.
Insight into Rivian Automotive Inc Fundamentals:
Rivian Automotive Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.01 and a Current Ratio set at 5.25.
RIVN Stock EPS
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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rivian Automotive Inc go to 28.30%.
Rivian Automotive Inc [RIVN] Institutonal Ownership Details
The top three institutional holders of RIVN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in RIVN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in RIVN stock with ownership which is approximately 5.1238%.
