Rivian Automotive Inc [RIVN] stock prices are up 2.16% to $12.78 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The RIVN shares have gain 12.60% over the last week, with a monthly amount drifted -15.75%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Rivian Automotive Inc [NASDAQ: RIVN] stock has seen the most recent analyst activity on March 07, 2024, when Jefferies initiated its Buy rating and assigned the stock a price target of $16. Previously, Truist downgraded its rating to Hold on February 26, 2024, and dropped its price target to $11. On February 23, 2024, downgrade downgraded it’s rating to Sell and revised its price target to $8 on the stock. JP Morgan downgraded its rating to a Underweight. Barclays downgraded its rating to a Equal Weight and reduced its price target to $16 on February 12, 2024. Deutsche Bank downgraded its rating to Hold for this stock on January 17, 2024, and downed its price target to $19. In a note dated January 04, 2024, Wolfe Research downgraded an Peer Perform rating on this stock.
The stock price of Rivian Automotive Inc [RIVN] has been fluctuating between $10.05 and $28.06 over the past year. Currently, Wall Street analysts expect the stock to reach $50.85 within the next 12 months. Rivian Automotive Inc [NASDAQ: RIVN] shares were valued at $12.78 at the most recent close of the market. An investor can expect a potential return of 297.89% based on the average RIVN price forecast.
Analyzing the RIVN fundamentals
The Rivian Automotive Inc [NASDAQ:RIVN] reported sales of 4.43B for trailing twelve months, representing a surge of 98.34%. Gross Profit Margin for this corporation currently stands at -0.46% with Operating Profit Margin at -1.29%, Pretax Profit Margin comes in at -1.22%, and Net Profit Margin reading is -1.23%. To continue investigating profitability, this company’s Return on Assets is posted at -0.32, Equity is -0.49 and Total Capital is -0.4. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.49.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 12.26 points at the first support level, and at 11.73 for the second support level. However, for the 1st resistance point, the stock is sitting at 13.47, and for the 2nd resistance point, it is at 14.16.
Rivian Automotive Inc [RIVN] reported earnings per share of -$1.36 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$1.32/share, meaning a difference of -$0.04 and a surprise factor of -3.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$1.19 per share as compared to estimates of -$1.32 per share, a difference of $0.13 representing a surprise of 9.80%.
Ratios To Look Out For
It’s worth pointing out that Rivian Automotive Inc [NASDAQ:RIVN]’s Current Ratio is 4.95. Also, the Quick Ratio is 3.90, while the Cash Ratio stands at 3.16. Considering the valuation of this stock, the price to sales ratio is 2.79, the price to book ratio is 1.35.
Transactions by insiders
Recent insider trading involved McDonough Claire, Chief Financial Officer, that happened on Feb 16 ’24 when 2946.0 shares were sold. Chief Financial Officer, McDonough Claire completed a deal on Nov 16 ’23 to sell 3265.0 shares. Meanwhile, Chief Financial Officer McDonough Claire sold 3265.0 shares on Sep 15 ’23.
