Rivian Automotive Inc (NASDAQ: RIVN) has seen a decline in its stock price by -1.43 in relation to its previous close of 10.50. However, the company has experienced a -1.33% decline in its stock price over the last five trading sessions. https://seekingalpha.com/article/4726731-rivian-dont-sweat-the-speed-bumps reported 2024-10-14 that Rivian is focused on long-term growth, aiming to produce over 600K EVs annually by the end of the decade despite current production setbacks. Investors should not be swayed by short-term issues; Rivian’s retooling and cost-reduction efforts are expected to improve gross margins and profitability. The company’s production capacity has increased, and new vehicle models like the R2 and R3 will drive future growth and revenue.
Is It Worth Investing in Rivian Automotive Inc (NASDAQ: RIVN) Right Now?
Additionally, the 36-month beta value for RIVN is 2.04. There are mixed opinions on the stock, with 10 analysts rating it as a “buy,” 6 rating it as “overweight,” 9 rating it as “hold,” and 2 rating it as “sell.”
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The public float for RIVN is 730.44M and currently, short sellers hold a 16.75% ratio of that float. The average trading volume of RIVN on October 15, 2024 was 31.55M shares.
RIVN’s Market Performance
The stock of Rivian Automotive Inc (RIVN) has seen a -1.33% decrease in the past week, with a -23.33% drop in the past month, and a -42.31% fall in the past quarter. The volatility ratio for the week is 4.13%, and the volatility levels for the past 30 days are at 4.93% for RIVN. The simple moving average for the last 20 days is -7.76% for RIVN stock, with a simple moving average of -20.65% for the last 200 days.
Analysts’ Opinion of RIVN
Many brokerage firms have already submitted their reports for RIVN stocks, with Morgan Stanley repeating the rating for RIVN by listing it as a “Equal-Weight.” The predicted price for RIVN in the upcoming period, according to Morgan Stanley is $13 based on the research report published on September 25, 2024 of the current year 2024.
Deutsche Bank, on the other hand, stated in their research note that they expect to see RIVN reach a price target of $14. The rating they have provided for RIVN stocks is “Hold” according to the report published on September 10th, 2024.
RIVN Trading at -18.50% 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 -57.95% of loss for the given period.
Volatility was left at 4.93%, however, over the last 30 days, the volatility rate increased by 4.13%, as shares sank -21.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -29.69% lower at present.
During the last 5 trading sessions, RIVN fell by -1.33%, which changed the moving average for the period of 200-days by -56.38% in comparison to the 20-day moving average, which settled at $11.22. In addition, Rivian Automotive Inc saw -55.88% 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 83,333 shares at the price of $11.64 back on Sep 23 ’24. After this action, Scaringe Robert J now owns 886,526 shares of Rivian Automotive Inc, valued at $969,588 using the latest closing price.
ROBERT J. SCARINGE, the Officer of Rivian Automotive Inc, proposed sale 83,333 shares at $11.64 during a trade that took place back on Sep 23 ’24, which means that ROBERT J. SCARINGE is holding shares at $969,588 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 36.3.
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 2.09. 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.
