Rivian Automotive Inc (NASDAQ: RIVN)’s stock price has plunge by 0.56relation to previous closing price of 16.21. Nevertheless, the company has seen a -5.34% plunge in its stock price over the last five trading sessions. investorplace.com reported 2024-07-29 that I have long been skeptical about Rivian (NASDAQ: RIVN ) as a company and Rivian stock. The California-based automaker, with an assembly plant in Illinois, is going through an Electric Vehicle version of Death Valley.
Is It Worth Investing in Rivian Automotive Inc (NASDAQ: RIVN) Right Now?
The stock has a 36-month beta value of 2.06. Opinions on the stock are mixed, 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 at present, short sellers hold a 17.65% of that float. On July 30, 2024, the average trading volume of RIVN was 45.76M shares.
RIVN’s Market Performance
RIVN stock saw an increase of -5.34% in the past week, with a monthly gain of 12.65% and a quarterly increase of 80.31%. The volatility ratio for the week is 5.30%, and the volatility levels for the last 30 days are 6.94% for Rivian Automotive Inc (RIVN). The simple moving average for the last 20 days is 0.67% for RIVN stock, with a simple moving average of 12.13% 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 23.81% 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 -41.91% of loss for the given period.
Volatility was left at 6.94%, however, over the last 30 days, the volatility rate increased by 5.30%, as shares surge +21.46% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +59.80% upper at present.
During the last 5 trading sessions, RIVN fell by -5.34%, which changed the moving average for the period of 200-days by -17.01% in comparison to the 20-day moving average, which settled at $16.34. In addition, Rivian Automotive Inc saw -30.52% 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 $17.02 back on Jul 22 ’24. After this action, Scaringe Robert J now owns 909,691 shares of Rivian Automotive Inc, valued at $1,215,750 using the latest closing price.
Scaringe Robert J, the Chief Executive Officer of Rivian Automotive Inc, sale 200,000 shares at $18.00 during a trade that took place back on Jul 12 ’24, which means that Scaringe Robert J is holding 909,691 shares at $3,600,220 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 3.07. 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 sum up, Rivian Automotive Inc (RIVN) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing 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.
