In the latest trading session, 4.08 million Rivian Automotive Inc. (NASDAQ:RIVN) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $32.09 changed hands at -$0.39 or -1.20% at last look, the market valuation stands at $30.74B. RIVN’s current price is a discount, trading about -459.27% off its 52-week high of $179.47. The share price had its 52-week low at $19.25, which suggests the last value was 40.01% up since then. When we look at Rivian Automotive Inc.’s average trading volume, we note the 10-day average is 16.08 million shares, with the 3-month average coming to 20.81 million.
Analysts gave the Rivian Automotive Inc. (RIVN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 17 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended RIVN as a Hold, 10 felt it is a Buy and 1 rated the stock as Underweight. Rivian Automotive Inc.’s EPS for the current quarter is expected to be -$1.45.
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Instantly RIVN was in red as seen in intraday trades today. With action 2.78%, the performance over the past five days has been green. The drop to weekly highs of 35.41 on Friday, 07/22/22 subtracted -1.20% to the stock’s daily price. The company’s shares are showing year-to-date downside of -68.68%, with the 5-day performance at 2.78% in the green. However, in the 30-day time frame, Rivian Automotive Inc. (NASDAQ:RIVN) is 13.73% up. Looking at the short shares, we see there were 53.02 million shares sold at short interest cover period of 3.38 days.
The consensus price target for the stock as assigned by Wall Street analysts is $52.57, meaning bulls need an upside of 38.96% from its recent market value. According to analyst projections, RIVN’s forecast low is $24.00 with $108.00 as the target high. To hit the forecast high, the stock’s price needs a -236.55% plunge from its current level, while the stock would need to tank 25.21% for it to hit the projected low.
Rivian Automotive Inc. (RIVN) estimates and forecasts
Data shows that the Rivian Automotive Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -50.05% over the past 6 months, a 56.77% in annual growth rate that is considerably higher than the industry average of 10.40%. Year-over-year growth is forecast to reach 3,431.20% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $338.9 million. 10 analysts are of the opinion that Rivian Automotive Inc.’s revenue for the quarter ending Sep 2022 will be $634.08 million. The estimates for the next quarter sales put growth at 63,308.00%.
The 2022 estimates are for Rivian Automotive Inc. earnings to increase by 58.30%.
Rivian Automotive Inc. is expected to release its next quarterly earnings report on December 16.
Rivian Automotive Inc. (NASDAQ:RIVN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 16.89% of Rivian Automotive Inc. shares while 65.82% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.19%. There are 65.82% institutions holding the Rivian Automotive Inc. stock share, with Price (T.Rowe) Associates Inc the top institutional holder. As of Dec 30, 2021, the company held 18.16% of the shares, roughly 162.08 million RIVN shares worth $16.81 billion.
Amazon.com, Inc. holds the second largest percentage of outstanding shares, with 17.74% or 158.36 million shares worth $7.96 billion as of Mar 30, 2022.
Among Mutual Funds, the top two as of Feb 27, 2022 were Growth Fund Of America Inc and Capital World Growth and Income Fund. With 14.32 million shares estimated at $967.4 million under it, the former controlled 1.60% of total outstanding shares. On the other hand, Capital World Growth and Income Fund held about 0.62% of the shares, roughly 5.52 million shares worth around $373.24 million.