During the last session, Rivian Automotive Inc (NASDAQ:RIVN)’s traded shares were 30.79 million, with the beta value of the company hitting 2.07. At the end of the trading day, the stock’s price was $12.90, reflecting an intraday loss of -1.53% or -$0.2. The 52-week high for the RIVN share is $24.87, that puts it down -92.79 from that peak though still a striking 35.97% gain since the share price plummeted to a 52-week low of $8.26. The company’s market capitalization is $13.01B, and the average intraday trading volume over the past 10 days was 22.81 million shares, and the average trade volume was 39.93 million shares over the past three months.
Rivian Automotive Inc (RIVN) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.20. RIVN has a Sell rating from 2 analyst(s) out of 23 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 16 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.89.
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Rivian Automotive Inc (NASDAQ:RIVN) trade information
Rivian Automotive Inc (RIVN) registered a -1.53% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.53% in intraday trading to $12.90, hitting a weekly high. The stock’s 5-day price performance is -7.39%, and it has moved by -4.66% in 30 days. Based on these gigs, the overall price performance for the year is -45.59%. The short interest in Rivian Automotive Inc (NASDAQ:RIVN) is 115.28 million shares and it means that shorts have 4.05 day(s) to cover.
The consensus price target of analysts on Wall Street is $18, which implies an increase of 28.33% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9 and $147 respectively. As a result, RIVN is trading at a discount of -1039.53% off the target high and 30.23% off the low.
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 up 14.56% during the last six months, with a year-to-date growth rate more than the industry average at 18.03% against -2.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 25.20% this quarter and then jump 50.70% in the quarter after that. In the rating firms’ projections, revenue will increase 7.90% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 1.11B as predicted by 18 analyst(s). Meanwhile, a consensus of 18 analyst(s) estimates revenue growth to 1.33B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 1.33B and 1.31B respectively. In this case, analysts expect current quarter sales to shrink by -16.50% and then jump by 1.30% 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 15.39% in 2024, the next five years will return 0.67% per annum.
RIVN Dividends
Rivian Automotive Inc is due to release its next quarterly earnings in October. 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 26.94% of total outstanding shares while institutional holders control 49.10%, with the float percentage being 67.21%. AMAZON COM INC is the largest shareholder of the company, while 990.0 institutions own stock in it. As of 2024-06-30, the company held over 158.36 million shares (or 16.1926% of all shares), a total value of $2.13 billion in shares.
The next largest institutional holding, with 75.11 million shares, is of VANGUARD GROUP INC’s that is approximately 7.6797% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $1.01 billion.
