Rivian Automotive Inc (NASDAQ: RIVN): A Competitive Analysis And Growth Prospects

In the last trading session, 43.08 million shares of the Rivian Automotive Inc (NASDAQ:RIVN) were traded, and its beta was 1.89. Most recently the company’s share price was $10.95, and it changed around -$0.04 or -0.36% from the last close, which brings the market valuation of the company to $10.70B. RIVN currently trades at a discount to its 52-week high of $28.06, offering almost -156.26% off that amount. The share price’s 52-week low was $10.05, which indicates that the current value has risen by an impressive 8.22% since then. We note from Rivian Automotive Inc’s average daily trading volume that its 10-day average is 35.21 million shares, with the 3-month average coming to 42.75 million.

Rivian Automotive Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.29. If we narrow it down even further, the data shows that 0 out of 27 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 10 recommended RIVN as a Hold, whereas 12 deemed it a Buy, and 0 rated it as Underweight. Rivian Automotive Inc is expected to report earnings per share of -$1.15 for the current quarter.

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Rivian Automotive Inc (NASDAQ:RIVN) trade information

Instantly RIVN has showed a red trend with a performance of -0.36% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -53.32% year-to-date, but still down -1.97% over the last five days. On the other hand, Rivian Automotive Inc (NASDAQ:RIVN) is -3.10% down in the 30-day period. We can see from the shorts that 119.44 million shares have been sold at a short interest cover period of 1.88 day(s).

The consensus price target as assigned by Wall Street analysts is $45.15, which translates to bulls needing to increase their stock price by 75.75% from its current value. Analyst projections state that RIVN is forecast to be at a low of $11 and a high of $147.

Rivian Automotive Inc (RIVN) estimates and forecasts

Rivian Automotive Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -52.49 percent over the past six months and at a 19.06% annual growth rate that is well above the industry average of 11.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 8.00% in revenue this quarter, and will report a decrease of -3.70% in the next quarter. The year-over-year growth rate is expected to be 8.80%, up from the previous year.

Consensus estimates provided by 17 financial analysts predict the company will bring in an average of $1.13 billion in revenue for the current quarter. 17 analysts expect Rivian Automotive Inc to make $965.42 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $661 million and $1 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 70.30%. Forecasts for the next quarter put sales growth at -3.50%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -86.59%.

RIVN Dividends

Rivian Automotive Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 27.94% of Rivian Automotive Inc shares, and 51.33% of them are in the hands of institutional investors. The stock currently has a share float of 71.23%. Rivian Automotive Inc stock is held by 944 institutions, with Amazon.com, Inc. being the largest institutional investor. By Sep 29, 2023, it held 16.70% of the shares, which is about 158.36 million shares worth $3.85 billion.

Price (T.Rowe) Associates Inc, with 7.73% or 73.29 million shares worth $1.22 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Price (T.Rowe) Growth Stock Fund Inc. and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 27.44 million shares worth $457.15 million, making up 2.89% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 22.04 million shares worth around $367.24 million, which represents about 2.32% of the total shares outstanding.