Rivian Automotive Inc [NASDAQ: RIVN] gained 3.85% or 0.43 points to close at $11.60 with a heavy trading volume of 35726252 shares.
The daily chart for RIVN points out that the company has recorded 5.94% gains over the past six months.
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If we look at the average trading volume of 36.44M shares, RIVN reached to a volume of 35726252 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $17.62 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 2.27. 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.
Morgan Stanley have made an estimate for Rivian Automotive Inc shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on September 25, 2024. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on September 10, 2024, representing the official price target for Rivian Automotive Inc stock. On June 28, 2024, analysts increased their price target for RIVN shares from 13 to 20.
The Average True Range (ATR) for Rivian Automotive Inc is set at 0.75, with the Price to Sales ratio for RIVN stock in the period of the last 12 months amounting to 2.33. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 7.80.
Trading performance analysis for RIVN stock
Rivian Automotive Inc [RIVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.94. With this latest performance, RIVN shares dropped by -16.12% in over the last four-week period, additionally plugging by 5.94% over the last 6 months – not to mention a drop of -49.67% 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 37.66, with the RSI for the last a single of trading hit 36.28, and the three-weeks RSI is set at 39.91 for Rivian Automotive Inc [RIVN]. The present Moving Average for the last 50 days of trading for this stock 13.96, while it was recorded at 11.51 for the last single week of trading, and 13.71 for the last 200 days.
Rivian Automotive Inc [RIVN]: A deeper dive into fundamental analysis
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.
An analysis of Institutional ownership at Rivian Automotive Inc [RIVN]
There are presently around $49.08%, or 67.17%% of RIVN stock, in the hands of institutional investors. The top three institutional holders of RIVN stocks are: AMAZON COM INC with ownership of 158.36 million shares, which is approximately 16.1926%. VANGUARD GROUP INC, holding 75.11 million shares of the stock with an approximate value of $$1.01 billion in RIVN stocks shares; and VANGUARD GROUP INC, currently with $$750.26 million in RIVN stock with ownership which is approximately 5.7164%.
