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.
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.
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.
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.
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%.
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.
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.