Rivian Automotive Inc (NASDAQ:RIVN) price on current trading day, rose 2.59% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $11.90.
A look at the stock’s price movement, the level at last check in today’s session was $11.60. Turning to its 52-week performance, $18.85 and $8.26 were the 52-week high and 52-week low respectively. Overall, RIVN moved -4.19% over the past month.
Rivian Automotive Inc’s market cap currently stands at around $13.46 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 993.14M for the company’s revenue for the quarter, with a low and high estimate of 882.1M and 1.09B respectively. The average forecast suggests down to a -17.51% 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 5.38B, representing a 8.34% 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 Hold. 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 100% Sell 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 -6.44% and -10.71% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.15, while 7-day volatility ratio is 7.08% and 5.26% in the 30-day chart. Further, Rivian Automotive Inc (RIVN) has a beta value of 2.03, and an average true range (ATR) of 0.79. Analysts have given the company’s stock an average 52-week price target of $13.5, forecast between a low of $12 and high of $17. Looking at the price targets, the low is -0.84% off recent price level in today’s trading while to achieve the yearly target high, it has to move -42.86%. Nonetheless, investors will most likely welcome a -13.45% jump to $13.5 which is the analysts’ median price.
If we refocus on Rivian Automotive Inc (NASDAQ:RIVN), historical trading data shows that trading volumes averaged 35.30 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.12 billion shares.
The 27.22% of Rivian Automotive Inc’s shares are in the hands of company insiders while institutional holders own 46.30% of the company’s shares. Current price change has pushed the stock -10.53% 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.
