In today’s recent session, 15.16 million shares of the Rivian Automotive Inc (NASDAQ:RIVN) have been traded, and its beta is 2.07. Most recently the company’s share price was $14.34, and it changed around $0.38 or 2.72% from the last close, which brings the market valuation of the company to $14.46B. RIVN at last check was trading at a discount to its 52-week high of $24.87, offering almost -73.43% off that amount. The share price’s 52-week low was $8.26, which indicates that the recent value has risen by an impressive 42.4% since then. We note from Rivian Automotive Inc’s average daily trading volume that its 10-day average is 27.28 million shares, with the 3-month average coming to 41.25 million.
Rivian Automotive Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.14. If we narrow it down even further, the data shows that 2 out of 27 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 9 recommended RIVN as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Rivian Automotive Inc is expected to report earnings per share of -0.89 for the current quarter.
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Rivian Automotive Inc (NASDAQ:RIVN) trade information
Instantly RIVN has been showing a green trend so far today with a performance of 2.72% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 14.72 on recent trading dayincreased the stock’s daily price by 2.58%. The company’s shares are currently down -38.87% year-to-date, but still up 5.99% over the last five days. On the other hand, Rivian Automotive Inc (NASDAQ:RIVN) is -11.54% down in the 30-day period. We can see from the shorts that 119.32 million shares have been sold at a short interest cover period of 2.68 day(s).
The consensus price target as assigned by Wall Street analysts is $20, which translates to bulls needing to increase their stock price by 28.3% from its current value. Analyst projections state that RIVN is forecast to be at a low of $9 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 risen 34.02 percent over the past six months and at a 22.54% annual growth rate that is well above the industry average of -1.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 25.20% in revenue this quarter, and will report an increase of 51.50% in the next quarter. The year-over-year growth rate is expected to be 8.10%, up from the previous year.
Consensus estimates provided by 18 financial analysts predict the company will bring in an average of 1.11B in revenue for the current quarter. 18 analysts expect Rivian Automotive Inc to make 1.33B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.33B and 1.31B respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -16.50%. Forecasts for the next quarter put sales growth at 1.30%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -86.59%. Rivian Automotive Inc earnings are expected to increase by 15.36% in 2024, but the outlook is positive 28.30% per year for the next five years.
RIVN Dividends
Rivian Automotive Inc’s next quarterly earnings report is expected to be released on 2024-Nov-05.
Rivian Automotive Inc (NASDAQ:RIVN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 27.30% of Rivian Automotive Inc shares, and 49.81% of them are in the hands of institutional investors. The stock currently has a share float of 68.51%. Rivian Automotive Inc stock is held by 991.0 institutions, with AMAZON COM INC being the largest institutional investor. By 2024-06-30, it held 16.1926% of the shares, which is about 158.36 million shares worth $2.13 billion.
VANGUARD GROUP INC, with 7.6797% or 75.11 million shares worth $1.01 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Price (T.Rowe) Growth Stock Fund Inc. were the top two Mutual Funds as of Mar 31, 2024. The former held 23.92 shares worth $346.23 million, making up 2.39% of all outstanding shares. On the other hand, Price (T.Rowe) Growth Stock Fund Inc. held roughly 17.78 shares worth around $257.39 million, which represents about 1.78% of the total shares outstanding.
