Rivian Automotive Inc (NASDAQ:RIVN) price on Wednesday, January 15, rose 4.50% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $13.94.
A look at the stock’s price movement, the close in the last trading session was $13.34, moving within a range at $13.745 and $14.21. The beta value (5-Year monthly) was 2.045. Turning to its 52-week performance, $18.85 and $8.26 were the 52-week high and 52-week low respectively. Overall, RIVN moved -1.83% over the past month.
Rivian Automotive Inc’s market cap currently stands at around $14.23 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 1.4B for the company’s revenue for the quarter, with a low and high estimate of 1.07B and 1.67B respectively. The average forecast suggests up to a 6.77% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.64B, representing a 4.71% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RIVN is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
23 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 16 recommend RIVN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RIVN’s current price about -1.00% and 11.15% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 52.00, while 7-day volatility ratio is 4.91% and 7.66% in the 30-day chart. Further, Rivian Automotive Inc (RIVN) has a beta value of 2.05, and an average true range (ATR) of 1.06. Analysts have given the company’s stock an average 52-week price target of $14.5, forecast between a low of $12 and high of $17. Looking at the price targets, the low is 13.92% off current price level while to achieve the yearly target high, price needs to move -21.95%. Nonetheless, investors will most likely welcome a -4.02% jump to $14.5 which is the analysts’ median price.
If we refocus on Rivian Automotive Inc (NASDAQ:RIVN), historical trading data shows that trading volumes averaged 42.29 over the past 10 days and 39.61 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.02 billion shares.
The 27.21% of Rivian Automotive Inc’s shares are in the hands of company insiders while institutional holders own 43.83% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 144.86 million on 2024-12-31, giving us a short ratio of 4.01. The data shows that as of 2024-12-31 short interest in Rivian Automotive Inc (RIVN) stood at 1946.9998999999998 of shares outstanding, with shares short falling to 151.12 million registered in 2024-11-29. Current price change has pushed the stock 4.81% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RIVN stock continues to rise going into the next quarter.
