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Rivian Automotive Inc. (NASDAQ: RIVN) Has Fallen -327.73% From Its Highs, What Comes Next?

Rivian Automotive Inc. (NASDAQ:RIVN)’s traded shares stood at 9.39 million during the last session. At the last check today, the stock’s price was $13.27, to imply an increase of 1.88% or $0.24 in intraday trading. The RIVN share’s 52-week high remains $56.76, putting it -327.73% down since that peak but still an impressive 3.54% since price per share fell to its 52-week low of $12.80. The company has a valuation of $12.40B, with an average of 53.26 million shares in intraday trading volume over the past 10 days and average of 31.71 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Rivian Automotive Inc. (RIVN), translating to a mean rating of 2.20. Of 21 analyst(s) looking at the stock, 0 analyst(s) give RIVN a Sell rating. 2 of those analysts rate the stock as Overweight while 6 advise Hold as 11 recommend it as a Buy. 2 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$1.93.

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Rivian Automotive Inc. (NASDAQ:RIVN) trade information

After registering a 1.88% upside in the latest session, Rivian Automotive Inc. (RIVN) has traded red over the past five days. The stock hit a weekly high of 14.90 this Wednesday, 03/15/23, jumping 1.88% in its intraday price action. The 5-day price performance for the stock is -8.64%, and -31.89% over 30 days. With these gigs, the year-to-date price performance is -27.97%. Short interest in Rivian Automotive Inc. (NASDAQ:RIVN) saw shorts transact 43.62 million shares and set a 1.79 days time to cover.

Analysts on Wall Street suggest a consensus price target of $28.42, implying an increase of 53.31% to the stock’s recent value. The extremes give us $16.00 and $44.00 for target low and target high price respectively. As such, RIVN has been trading -231.57% off suggested target high and -20.57% from its likely low.

Rivian Automotive Inc. (RIVN) estimates and forecasts

Looking at statistics comparing Rivian Automotive Inc. share performance against respective industry, we note that the company has outperformed competitors. Rivian Automotive Inc. (RIVN) shares are -66.90% down over the last 6 months, with its year-to-date growth rate higher than industry average at 13.88% against 6.30%. Revenue is forecast to grow 20.60% this quarter before falling -10.50% for the next one. The rating firms project that company’s revenue will grow 3,048.20% compared to the previous financial year.

Revenue forecast for the current quarter as set by 17 analysts is $746.38 million. Meanwhile, for the quarter ending Mar 2023, a total of 10 analyst(s) estimate revenue growth to $860.97 million.Earnings reports from the last fiscal year show that sales brought in $54 million and $95 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 1,282.20% before jumping 806.30% in the following quarter.

RIVN Dividends

Rivian Automotive Inc. has its next earnings report out on February 28. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Rivian Automotive Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Rivian Automotive Inc. (NASDAQ:RIVN)’s Major holders

Rivian Automotive Inc. insiders hold 12.24% of total outstanding shares, with institutional holders owning 68.40% of the shares at 77.94% float percentage. In total, 68.40% institutions holds shares in the company, led by Amazon.com, Inc. As of Dec 30, 2022, the company held over 158.36 million shares (or 17.34% of shares), all amounting to roughly $2.92 billion.

The next major institution holding the largest number of shares is Price (T.Rowe) Associates Inc with 140.63 million shares, or about 15.40% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $4.63 billion.

We also have Price (T.Rowe) Growth Stock Fund Inc. and Price (T.Rowe) Growth Stock Trust as the top two Mutual Funds with the largest holdings of the Rivian Automotive Inc. (RIVN) shares. Going by data provided on Sep 29, 2022, Price (T.Rowe) Growth Stock Fund Inc. holds roughly 46.32 million shares. This is just over 5.07% of the total shares, with a market valuation of $1.52 billion. Data from the same date shows that the other fund manager holds a little less at 22.86 million, or 2.50% of the shares, all valued at about 752.19 million.

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