The Time Is Right To Purchase Rivian Automotive Inc (NASDAQ: RIVN)

During the last session, Rivian Automotive Inc (NASDAQ:RIVN)’s traded shares were 33.34 million, with the beta value of the company hitting 1.88. At the end of the trading day, the stock’s price was $10.54, reflecting an intraday gain of 0.29% or $0.03. The 52-week high for the RIVN share is $28.06, that puts it down -166.22 from that peak though still a striking 4.65% gain since the share price plummeted to a 52-week low of $10.05. The company’s market capitalization is $10.30B, and the average intraday trading volume over the past 10 days was 35.11 million shares, and the average trade volume was 42.97 million shares over the past three months.

Rivian Automotive Inc (NASDAQ:RIVN) trade information

Rivian Automotive Inc (RIVN) registered a 0.29% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.29% in intraday trading to $10.54, hitting a weekly high. The stock’s 5-day price performance is 0.19%, and it has moved by -3.39% in 30 days. Based on these gigs, the overall price performance for the year is -31.91%. The short interest in Rivian Automotive Inc (NASDAQ:RIVN) is 119.44 million shares and it means that shorts have 1.88 day(s) to cover.

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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 -55.45% during the last six months, with a year-to-date growth rate more than the industry average at 19.06% against 15.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 8.00% this quarter and then drop -3.70% in the quarter after that. In the rating firms’ projections, revenue will increase 8.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.13 billion as predicted by 17 analyst(s). Meanwhile, a consensus of 17 analyst(s) estimates revenue growth to $965.42 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $661 million and $1 billion respectively. In this case, analysts expect current quarter sales to grow by 71.00% and then drop by -3.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -86.59%. While earnings are projected to return 13.94% in 2024.

RIVN Dividends

Rivian Automotive Inc is due to release its next quarterly earnings between May 07 and May 13. 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 27.94% of total outstanding shares while institutional holders control 51.33%, with the float percentage being 71.23%. Amazon.com, Inc. is the largest shareholder of the company, while 944 institutions own stock in it. As of Sep 29, 2023, the company held over 158.36 million shares (or 16.70% of all shares), a total value of $3.85 billion in shares.

The next largest institutional holding, with 73.29 million shares, is of Price (T.Rowe) Associates Inc’s that is approximately 7.73% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $1.22 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 Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2023 indicates that Price (T.Rowe) Growth Stock Fund Inc. owns about 27.44 million shares. This amounts to just over 2.89 percent of the company’s overall shares, with a $457.15 million market value. The same data shows that the other fund manager holds slightly less at 22.04 million, or about 2.32% of the stock, which is worth about $367.24 million.