Rivian Automotive Inc (NASDAQ:RIVN) shares, rose in value on Thursday, January 02, with the stock price up by 2.86% to the previous day’s close as strong demand from buyers drove the stock to $13.68.
Actively observing the price movement in the recent trading, the stock is buoying the session at $13.30, falling within a range of $12.76 and $13.79. The value of beta (5-year monthly) is 2.045. Referring to stock’s 52-week performance, its high was $21.94, and the low was $8.26. On the whole, RIVN has fluctuated by 15.25% over the past month.
With the market capitalization of Rivian Automotive Inc currently standing at about $13.96 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 4.64B, with a low estimate of 1.07B and a high estimate of 1.5B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.38B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RIVN’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of RIVN currently trading nearly -0.22% and 14.98% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.30, while the 7-day volatility ratio is showing 6.19% which for the 30-day chart, stands at 7.29%. Furthermore, Rivian Automotive Inc (RIVN)’s beta value is 2.06, and its average true range (ATR) is 0.95.
A comparison of Rivian Automotive Inc (RIVN) with its peers suggests the former has fared considerably weaker in the market. RIVN showed an intraday change of 2.86% in today’s session so far, and over the past year, it shrunk by -35.17%%.
Data on historical trading for Rivian Automotive Inc (NASDAQ:RIVN) indicates that the trading volumes over the past 10 days have averaged 30.44 and over the past 3 months, they’ve averaged 37.91 million. According to company’s latest data on outstanding shares, there are 1.02 billion shares outstanding.
Nearly 27.21% of Rivian Automotive Inc’s shares belong to company insiders and institutional investors own 43.91% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 142.36 million shares as on 2024-12-13, resulting in a short ratio of 2.84. According to the data, the short interest in Rivian Automotive Inc (RIVN) stood at 1914.00 of shares outstanding as of 2024-12-13; the number of short shares registered in 2024-11-15 reached 150.0 million. The stock has risen by 2.86% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RIVN stock heading into the next quarter.
