Additionally, the 36-month beta value for RIVN is 2.08. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for RIVN is 717.45M and currently, short sellers hold a 17.65% ratio of that float. The average trading volume of RIVN on August 09, 2024 was 43.40M shares.
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RIVN) stock’s latest price update
The stock price of Rivian Automotive Inc (NASDAQ: RIVN) has plunged by -3.26 when compared to previous closing price of 14.72, but the company has seen a -3.26% decline in its stock price over the last five trading sessions. seekingalpha.com reported 2024-08-09 that Rivian Automotive reported a slightly lower loss than expected in Q2, but cash reserves continue to dwindle. The company reaffirmed plans to produce 57K electric vehicles, with a valuation still compelling despite cash decline. Rivian Automotive needs to implement major cost cuts to improve profitability, but remains a promising investment opportunity.
RIVN’s Market Performance
RIVN’s stock has fallen by -3.26% in the past week, with a monthly drop of -15.04% and a quarterly rise of 39.34%. The volatility ratio for the week is 9.43% while the volatility levels for the last 30 days are 6.89% for Rivian Automotive Inc The simple moving average for the past 20 days is -12.27% for RIVN’s stock, with a -0.94% simple moving average for the past 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 1.37% 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 -44.66% of loss for the given period.
Volatility was left at 6.89%, however, over the last 30 days, the volatility rate increased by 9.43%, as shares sank -22.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +37.72% upper at present.
During the last 5 trading sessions, RIVN fell by -4.38%, which changed the moving average for the period of 200-days by -17.55% in comparison to the 20-day moving average, which settled at $16.03. In addition, Rivian Automotive Inc saw -39.30% 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:
- -1.17 for the present operating margin
- -0.43 for the gross margin
The net margin for Rivian Automotive Inc stands at -1.15. The total capital return value is set at -0.44. Equity return is now at value -62.50, with -35.55 for asset returns.
Based on Rivian Automotive Inc (RIVN), the company’s capital structure generated 0.47 points at debt to capital in total, while cash flow to debt ratio is standing at -0.67. The debt to equity ratio resting at 0.87. The interest coverage ratio of the stock is 18.85.
Currently, EBITDA for the company is -4.8 billion with net debt to EBITDA at -0.02. When we switch over and look at the enterprise to sales, we see a ratio of 2.82. The receivables turnover for the company is 20.14for trailing twelve months and the total asset turnover is 0.33. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.25.
Conclusion
In conclusion, Rivian Automotive Inc (RIVN) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
