Rivian Automotive Inc (NASDAQ:RIVN) Stock Plunged -31.33% So Far In 2024, What Analysts Expect Next?

In last trading session, Rivian Automotive Inc (NASDAQ:RIVN) saw 57.35 million shares changing hands with its beta currently measuring 2.07. Company’s recent per share price level of $16.11 trading at $0.94 or 6.20% at ring of the bell on the day assigns it a market valuation of $15.40B. That closing price of RIVN’s stock is at a discount of -74.18% from its 52-week high price of $28.06 and is indicating a premium of 27.5% from its 52-week low price of $11.68. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 28.67 million shares which gives us an average trading volume of 35.68 million if we extend that period to 3-months.

Rivian Automotive Inc (NASDAQ:RIVN) trade information

Upright in the green during last session for gaining 6.20%, in the last five days RIVN remained trading in the green while hitting it’s week-highest on Thursday, 02/08/24 when the stock touched $16.11 price level, adding 0.06% to its value on the day. Rivian Automotive Inc’s shares saw a change of -31.33% in year-to-date performance and have moved 3.73% in past 5-day. Rivian Automotive Inc (NASDAQ:RIVN) showed a performance of -16.31% in past 30-days. Number of shares sold short was 104.86 million shares which calculate 3.11 days to cover the short interests.

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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 lost -27.92% of value to its shares in past 6 months, showing an annual growth rate of 20.82% while that of industry is 8.40. Apart from that, the company came raising its revenue forecast for fiscal year 2024.

RIVN Dividends

Rivian Automotive Inc is more likely to be releasing its next quarterly report on February 21 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 28.53% of company’s total shares while institution are holding 49.78 percent of that, with stock having share float percentage of 69.66%. Investors also watch the number of corporate investors in a company very closely, which is 49.78% 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 $3.85 billion. And as of Sep 29, 2023, it was holding 16.70% of the company’s outstanding shares.

The second largest institutional holder is Price (T.Rowe) Associates Inc, which was holding about 73.29 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.73% of outstanding shares, having a total worth of $1.22 billion.

On the other hand, Price (T.Rowe) Growth Stock Fund Inc. and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 27.44 million shares of worth $457.15 million or 2.89% of the total outstanding shares. The later fund manager was in possession of 22.04 million shares on Jun 29, 2023, making its stake of worth around $367.24 million in the company or a holder of 2.32% of company’s stock.

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