In the last trading session, 28.99 million Rivian Automotive Inc (NASDAQ:RIVN) shares changed hands as the company’s beta touched 1.89. With the company’s per share price at $10.80 changed hands at -$0.37 or -3.31% during last session, the market valuation stood at $10.45B. RIVN’s last price was a discount, traded about -159.81% off its 52-week high of $28.06. The share price had its 52-week low at $10.05, which suggests the last value was 6.94% up since then. When we look at Rivian Automotive Inc’s average trading volume, we note the 10-day average is 39.7 million shares, with the 3-month average coming to 42.28 million.
Rivian Automotive Inc (NASDAQ:RIVN) trade information
Instantly RIVN was in red as seen at the end of in last trading. With action -2.17%, the performance over the past five days has been red. The drop to weekly highs of 11.56 subtracted -3.31% to the stock’s daily price. The company’s shares are showing year-to-date downside of -53.96%, with the 5-day performance at -2.17% in the red. However, in the 30-day time frame, Rivian Automotive Inc (NASDAQ:RIVN) is -5.68% down. Looking at the short shares, we see there were 122.38 million shares sold at short interest cover period of 2.54 days.
Rivian Automotive Inc (RIVN) estimates and forecasts
Data shows that the Rivian Automotive Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -49.84% over the past 6 months, a 19.06% in annual growth rate that is considerably higher than the industry average of 12.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Rivian Automotive Inc will rise 8.00%, while the growth in revenue is estimated to hit -3.70% for the next quarter. Year-over-year growth is forecast to reach 8.80% up from the last financial year.
Consensus estimates given by 17 financial analysts project the company’s revenue in the current quarter to hit an average of $1.13 billion. 17 analysts are of the opinion that Rivian Automotive Inc’s revenue for the quarter ending Jun 2024 will be $965.42 million. The company’s revenue for the corresponding quarters a year ago was $661 million and $1 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 70.30%. The estimates for the next quarter sales put growth at -3.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -86.59%. The 2024 estimates are for Rivian Automotive Inc earnings to increase by 14.06%.
RIVN Dividends
Rivian Automotive Inc is expected to release its next quarterly earnings report between May 07 and May 13.
Rivian Automotive Inc (NASDAQ:RIVN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 27.94% of Rivian Automotive Inc shares while 51.26% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 71.14%. There are 51.26% institutions holding the Rivian Automotive Inc stock share, with Amazon.com, Inc. the top institutional holder. As of Sep 29, 2023, the company held 16.70% of the shares, roughly 158.36 million RIVN shares worth $3.85 billion.
Price (T.Rowe) Associates Inc holds the second largest percentage of outstanding shares, with 7.73% or 73.29 million shares worth $1.22 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Price (T.Rowe) Growth Stock Fund Inc. and Vanguard Total Stock Market Index Fund. With 27.44 million shares estimated at $457.15 million under it, the former controlled 2.89% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.32% of the shares, roughly 22.04 million shares worth around $367.24 million.
