The stock price of Rivian Automotive Inc (NASDAQ: RIVN) has plunged by -7.26 when compared to previous closing price of 14.47, but the company has seen a 30.04% gain in its stock price over the last five trading sessions. accesswire.com reported 2024-06-30 that NEW YORK, NY / ACCESSWIRE / June 30, 2024 / If you suffered a loss on your Rivian Automotive, Inc. (NASDAQ:RIVN) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: https://zlk.com/pslra-1/rivian-automotive-inc-lawsuit-submission-form?prid=88379&wire=1 or contact Joseph E. Levi, Esq.
Is It Worth Investing in Rivian Automotive Inc (NASDAQ: RIVN) Right Now?
RIVN has 36-month beta value of 2.12. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for RIVN is 717.41M, and currently, short sellers hold a 18.49% ratio of that float. The average trading volume of RIVN on July 01, 2024 was 42.25M shares.
RIVN’s Market Performance
RIVN’s stock has seen a 30.04% increase for the week, with a 31.31% rise in the past month and a 22.56% gain in the past quarter. The volatility ratio for the week is 11.16%, and the volatility levels for the past 30 days are at 6.69% for Rivian Automotive Inc The simple moving average for the last 20 days is 15.93% for RIVN stock, with a simple moving average of -11.37% for the last 200 days.
Analysts’ Opinion of RIVN
Many brokerage firms have already submitted their reports for RIVN stocks, with Needham repeating the rating for RIVN by listing it as a “Buy.” The predicted price for RIVN in the upcoming period, according to Needham is $20 based on the research report published on June 28, 2024 of the current year 2024.
Wedbush, on the other hand, stated in their research note that they expect to see RIVN reach a price target of $20, previously predicting the price at $15. The rating they have provided for RIVN stocks is “Outperform” according to the report published on June 26th, 2024.
Cantor Fitzgerald gave a rating of “Overweight” to RIVN, setting the target price at $19 in the report published on June 26th of the current year.
RIVN Trading at 27.72% from the 50-Day Moving Average
After a stumble in the market that brought RIVN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.17% of loss for the given period.
Volatility was left at 6.69%, however, over the last 30 days, the volatility rate increased by 11.16%, as shares surge +22.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +53.55% upper at present.
During the last 5 trading sessions, RIVN rose by +30.04%, which changed the moving average for the period of 200-days by -43.09% in comparison to the 20-day moving average, which settled at $11.70. In addition, Rivian Automotive Inc saw -42.80% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RIVN starting from Scaringe Robert J, who sale 71,429 shares at the price of $11.25 back on Jun 25 ’24. After this action, Scaringe Robert J now owns 909,691 shares of Rivian Automotive Inc, valued at $803,576 using the latest closing price.
Scaringe Robert J, the Chief Executive Officer of Rivian Automotive Inc, sale 71,429 shares at $11.49 during a trade that took place back on Jun 10 ’24, which means that Scaringe Robert J is holding 909,691 shares at $820,891 based on the most recent closing price.
Stock Fundamentals for RIVN
Current profitability levels for the company are sitting at:
- -1.16 for the present operating margin
- -0.41 for the gross margin
The net margin for Rivian Automotive Inc stands at -1.11. The total capital return value is set at -0.43. Equity return is now at value -53.14, with -32.60 for asset returns.
Based on Rivian Automotive Inc (RIVN), the company’s capital structure generated 0.39 points at debt to capital in total, while cash flow to debt ratio is standing at -0.9. The debt to equity ratio resting at 0.64. The interest coverage ratio of the stock is 31.64.
Currently, EBITDA for the company is -4.8 billion with net debt to EBITDA at 0.14. When we switch over and look at the enterprise to sales, we see a ratio of 2.49. The receivables turnover for the company is 12.79for trailing twelve months and the total asset turnover is 0.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.71.
Conclusion
To put it simply, Rivian Automotive Inc (RIVN) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
