Are analysts optimistic about Rivian Automotive Inc.’s (NASDAQ:RIVN) stock?

The closing price of Rivian Automotive Inc. (NASDAQ: RIVN) was 35.75 for the day, down -5.77% from the previous closing price of $37.94. In other words, the price has decreased by $-2.19 from its previous closing price. On the day, 17431215 shares were traded. RIVN reached its highest trading level at $38.33 during the session, while it also had its lowest trading level at $35.73.

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Our analysis of RIVN’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 8.60 and its Current Ratio is at 9.00. In the meantime, Its Debt-to-Equity ratio is 0.07 whereas as Long-Term Debt/Eq ratio is at 0.07.

Upgrades & Downgrades

On July 13, 2022, Canaccord Genuity started tracking the stock assigning a Buy rating and target price of $61.

On June 02, 2022, DA Davidson started tracking the stock assigning a Underperform rating and target price of $24.DA Davidson initiated its Underperform rating on June 02, 2022, with a $24 target price.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Aug 15 when Baker Jeff sold 1,753 shares for $37.27 per share. The transaction valued at 65,342 led to the insider holds 79,666 shares of the business.

FLATLEY JAY T bought 40,000 shares of RIVN for $1,172,400 on May 26. The Director now owns 92,616 shares after completing the transaction at $29.31 per share. On May 17, another insider, Behl Jiten, who serves as the Chief Growth Officer of the company, sold 1,608 shares for $25.83 each. As a result, the insider received 41,535 and left with 25,900 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 64.42 while its Price-to-Book (P/B) ratio in mrq is 1.92.

Stock Price History:

Over the past 52 weeks, RIVN has reached a high of $179.47, while it has fallen to a 52-week low of $19.25. The 50-Day Moving Average of the stock is 34.71, while the 200-Day Moving Average is calculated to be 48.82.

Shares Statistics:

RIVN traded an average of 17.40M shares per day over the past three months and 28.76M shares per day over the past ten days. A total of 908.00M shares are outstanding, with a floating share count of 796.62M. Insiders hold about 9.70% of the company’s shares, while institutions hold 64.30% stake in the company. Shares short for RIVN as of Jul 14, 2022 were 53.64M with a Short Ratio of 2.52, compared to 55.92M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 5.96% and a Short% of Float of 15.04%.

Earnings Estimates

The firm’s stock currently is rated by 12 analysts. The consensus estimate for the next quarter is $-1.6, with high estimates of $-1.39 and low estimates of $-1.9.

Analysts are recommending an EPS of between $-5.49 and $-7.64 for the fiscal current year, implying an average EPS of $-6.37. EPS for the following year is $-5.59, with 14 analysts recommending between $-3.85 and $-7.01.

Revenue Estimates

A total of 16 analysts have provided revenue estimates for RIVN’s current fiscal year. The highest revenue estimate was $2.01B, while the lowest revenue estimate was $1.51B, resulting in an average revenue estimate of $1.86B. In the same quarter a year ago, actual revenue was $55M, up 3,281.60% from the average estimate. Based on 16 analysts’ estimates, the company’s revenue will be $6.46B in the next fiscal year. The high estimate is $7.96B and the low estimate is $5.19B. The average revenue growth estimate for next year is up 247.60% from the average revenue estimate for this year.