In recent trading session, Rivian Automotive Inc. (NASDAQ:RIVN) saw 1.92 million shares changing hands at last check today with its beta currently measuring 0. Company’s recent per share price level of $29.46 trading at -$0.25 or -0.84% at last check today assigns it a market valuation of $28.92B. That most recent trading price of RIVN’s stock is at a discount of -330.24% from its 52-week high price of $126.75 and is indicating a premium of 34.66% from its 52-week low price of $19.25. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 14.7 million shares which gives us an average trading volume of 16.55 million if we extend that period to 3-months.
For Rivian Automotive Inc. (RIVN), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.20. Splitting up the data highlights that, out of 19 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 11 see the stock as a Buy. 2 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$1.81 in the current quarter.
Rivian Automotive Inc. (NASDAQ:RIVN) trade information
Upright in the red during last session for losing -0.84%, in the last five days RIVN remained trading in the red while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $29.46 price level, adding 9.88% to its value on the day. Rivian Automotive Inc.’s shares saw a change of -71.35% in year-to-date performance and have moved -10.83% in past 5-day. Rivian Automotive Inc. (NASDAQ:RIVN) showed a performance of -13.86% in past 30-days. Number of shares sold short was 49.34 million shares which calculate 2.46 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $47.53 to the stock, which implies a rise of 38.02% to its recent value today. Analysts have been projecting $23.00 as a low price target for the stock while placing it at a high target of $70.00. It follows that stock’s current price would drop -137.61% in reaching the projected high whereas dropping to the targeted low would mean a gain of 21.93% for stock’s current value.
Rivian Automotive Inc. (RIVN) estimates and forecasts
Statistics highlight that Rivian Automotive Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 9.03% of value to its shares in past 6 months, showing an annual growth rate of 55.75% while that of industry is 11.60. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 76.40% in the current quarter and calculating 26.30% increase in the next quarter. This year revenue growth is estimated to rise 3,194.60% from the last financial year’s standing.
16 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $554.99 million for the same. And 15 analysts are in estimates of company making revenue of $796.69 million in the next quarter that will end on Dec 2022. Company posted $1 million and $54 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 55,399.00% while estimating it to be 1,375.40% for the next quarter.
Rivian Automotive Inc. is more likely to be releasing its next quarterly report on November 09 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Rivian Automotive Inc. (NASDAQ:RIVN)’s Major holders
Insiders are in possession of 12.30% of company’s total shares while institution are holding 64.21 percent of that, with stock having share float percentage of 73.22%. Investors also watch the number of corporate investors in a company very closely, which is 64.21% institutions for Rivian Automotive Inc. that are currently holding shares of the company. Amazon.com, Inc. is the top institutional holder at RIVN for having 158.36 million shares of worth $5.21 billion. And as of Sep 29, 2022, it was holding 17.43% of the company’s outstanding shares.
The second largest institutional holder is Price (T.Rowe) Associates Inc, which was holding about 141.56 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 15.58% of outstanding shares, having a total worth of $3.64 billion.
On the other hand, Price (T.Rowe) Growth Stock Fund Inc. and Price (T.Rowe) Growth Stock Trust are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 46.51 million shares of worth $1.2 billion or 5.12% of the total outstanding shares. The later fund manager was in possession of 22.51 million shares on Jun 29, 2022, making its stake of worth around $579.34 million in the company or a holder of 2.48% of company’s stock.