In the latest trading session, 10.06 million Rivian Automotive Inc (NASDAQ:RIVN) shares changed hands as the company’s beta touched 2.13. With the company’s most recent per share price at $11.98 changing hands around $0.11 or 0.95% at last look, the market valuation stands at $12.23B. RIVN’s current price is a discount, trading about -105.43% off its 52-week high of $24.61. The share price had its 52-week low at $8.26, which suggests the last value was 31.05% up since then. When we look at Rivian Automotive Inc’s average trading volume, we note the 10-day average is 46.39 million shares, with the 3-month average coming to 36.03 million.
Analysts gave the Rivian Automotive Inc (RIVN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.32. If we narrow down to specifics, the data shows that 2 out of 23 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended RIVN as a Hold, 16 felt it is a Buy and 0 rated the stock as Underweight. Rivian Automotive Inc’s EPS for the current quarter is expected to be -0.65.
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Rivian Automotive Inc (NASDAQ:RIVN) trade information
Instantly RIVN is in green as seen in intraday trades today. With action 3.30%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -48.92%, with the 5-day performance at 3.30% in the green. However, in the 30-day time frame, Rivian Automotive Inc (NASDAQ:RIVN) is 17.71% up. Looking at the short shares, we see there were 150.0 million shares sold at short interest cover period of 3.96 days.
The consensus price target for the stock as assigned by Wall Street analysts is 17.5, meaning bulls need an upside of 31.54% from its recent market value. According to analyst projections, RIVN’s forecast low is 9 with 147 as the target high. To hit the forecast high, the stock’s price needs a -1127.05% plunge from its current level, while the stock would need to tank 24.87% for it to hit the projected low.
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 6.80% over the past 6 months, a 17.42% in annual growth rate that is considerably higher than the industry average of -11.10%. Year-over-year growth is forecast to reach 5.20% up from the last financial year.
Consensus estimates given by 18 financial analysts project the company’s revenue in the current quarter to hit an average of 1.39B. 11 analysts are of the opinion that Rivian Automotive Inc’s revenue for the current quarter will be 1.1B. The company’s revenue for the corresponding quarters a year ago was 1.31B and 1.2B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.44%. The estimates for the next quarter sales put growth at -8.59%.
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 15.37%.
RIVN Dividends
Rivian Automotive Inc is expected to release its next quarterly earnings report in January.
Rivian Automotive Inc (NASDAQ:RIVN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 26.61% of Rivian Automotive Inc shares while 45.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.36%. There are 45.77% institutions holding the Rivian Automotive Inc stock share, with AMAZON COM INC the top institutional holder. As of 2024-06-30, the company held 16.1926% of the shares, roughly 158.36 million RIVN shares worth $2.13 billion.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 7.6797% or 75.11 million shares worth $1.01 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 25.16 shares estimated at $300.57 million under it, the former controlled 2.48% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.10% of the shares, roughly 21.29 shares worth around $254.25 million.
