During the last session, Rivian Automotive Inc. (NASDAQ:RIVN)’s traded shares were 16.07 million. At the end of the trading day, the stock’s price was $14.57, reflecting an intraday gain of 1.32% or $0.19. The 52-week high for the RIVN share is $40.86, that puts it down -180.44 from that peak though still a striking 19.84% gain since the share price plummeted to a 52-week low of $11.68. The company’s market capitalization is $13.76B, and the average intraday trading volume over the past 10 days was 19.55 million shares, and the average trade volume was 29.09 million shares over the past three months.
Rivian Automotive Inc. (RIVN) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. RIVN has a Sell rating from 2 analyst(s) out of 24 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 12 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$1.41.
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Rivian Automotive Inc. (NASDAQ:RIVN) trade information
Rivian Automotive Inc. (RIVN) registered a 1.32% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.32% in intraday trading to $14.57 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 7.61%, and it has moved by 21.01% in 30 days. Based on these gigs, the overall price performance for the year is -45.08%. The short interest in Rivian Automotive Inc. (NASDAQ:RIVN) is 73.44 million shares and it means that shorts have 3.23 day(s) to cover.
The consensus price target of analysts on Wall Street is $23.95, which implies an increase of 39.16% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.00 and $40.00 respectively. As a result, RIVN is trading at a discount of -174.54% off the target high and 24.5% off the low.
Rivian Automotive Inc. (RIVN) estimates and forecasts
Statistics show that Rivian Automotive Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Rivian Automotive Inc. (RIVN) shares have gone down -49.65% during the last six months, with a year-to-date growth rate more than the industry average at 18.77% against 11.50. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 13.00% this quarter and then jump 14.60% in the quarter after that. In the rating firms’ projections, revenue will increase 144.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $945.55 million as predicted by 16 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to $1.23 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $364 million and $551.57 million respectively. In this case, analysts expect current quarter sales to grow by 159.80% and then jump by 123.80% in the coming quarter.
While earnings are projected to return 67.80% in 2023.
Rivian Automotive Inc. is due to release its next quarterly earnings on May 09. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Rivian Automotive Inc. (NASDAQ:RIVN)’s Major holders
Rivian Automotive Inc. insiders own 12.16% of total outstanding shares while institutional holders control 68.06%, with the float percentage being 77.48%. Amazon.com, Inc. is the largest shareholder of the company, while 834 institutions own stock in it. As of Mar 30, 2023, the company held over 158.36 million shares (or 17.00% of all shares), a total value of $2.45 billion in shares.
The next largest institutional holding, with 76.78 million shares, is of Price (T.Rowe) Associates Inc’s that is approximately 8.24% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.19 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Rivian Automotive Inc. (RIVN) shares are Price (T.Rowe) Growth Stock Fund Inc. and Price (T.Rowe) Growth Stock Trust. Data provided on Dec 30, 2022 indicates that Price (T.Rowe) Growth Stock Fund Inc. owns about 39.71 million shares. This amounts to just over 4.32 percent of the company’s overall shares, with a $731.87 million market value. The same data shows that the other fund manager holds slightly less at 20.69 million, or about 2.25% of the stock, which is worth about $381.24 million.