Market Update: Rivian Automotive Inc (RIVN) Sees Negative Movement, Closing at 10.20

Beyond market trends, investors keen on maximizing returns delve into the world of stock picking. The right selections can be instrumental in catapulting your wealth.

In the latest session, Rivian Automotive Inc (NASDAQ: RIVN) closed at $10.20 down -8.85% from its previous closing price of $11.19. In other words, the price has decreased by -$8.85 from its previous closing price. On the day, 63.71 million shares were traded. RIVN stock price reached its highest trading level at $11.14 during the session, while it also had its lowest trading level at $10.14.

Ratios:

For a deeper understanding of Rivian Automotive Inc’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 3.55 and its Current Ratio is at 4.71. In the meantime, Its Debt-to-Equity ratio is 0.59 whereas as Long-Term Debt/Eq ratio is at 0.59.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Needham on April 18, 2024, Reiterated its Buy rating but revised its target price to $13 from $18 previously.

On April 16, 2024, UBS Upgraded its rating to Neutral which previously was Sell but kept the price unchanged to $9.

Mizuho Downgraded its Buy to Neutral on March 25, 2024, while the target price for the stock was maintained at $12.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Mar 11 ’24 when Baker Jeff sold 31,425 shares for $13.18 per share. The transaction valued at 414,219 led to the insider holds 52,415 shares of the business.

Gruner Kjell sold 19,935 shares of RIVN for $255,367 on Mar 08 ’24. The Chief Commercial Officer now owns 407,787 shares after completing the transaction at $12.81 per share. On Feb 16 ’24, another insider, McDonough Claire, who serves as the Chief Financial Officer of the company, sold 2,946 shares for $16.20 each. As a result, the insider received 47,725 and left with 155,749 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RIVN now has a Market Capitalization of 10152263680 and an Enterprise Value of 7277266432. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.04 while its Price-to-Book (P/B) ratio in mrq is 1.26. Its current Enterprise Value per Revenue stands at 1.462 whereas that against EBITDA is -1.529.

Stock Price History:

The Beta on a monthly basis for RIVN is 2.01, which has changed by -0.2466765 over the last 52 weeks, in comparison to a change of 0.2644323 over the same period for the S&P500. Over the past 52 weeks, RIVN has reached a high of $28.06, while it has fallen to a 52-week low of $8.26. The 50-Day Moving Average of the stock is -1.04%, while the 200-Day Moving Average is calculated to be -39.58%.

Shares Statistics:

For the past three months, RIVN has traded an average of 48.46M shares per day and 54972970 over the past ten days. A total of 960.00M shares are outstanding, with a floating share count of 713.32M. Insiders hold about 28.33% of the company’s shares, while institutions hold 48.40% stake in the company. Shares short for RIVN as of 1714435200 were 146807849 with a Short Ratio of 3.03, compared to 1711584000 on 127326315. Therefore, it implies a Short% of Shares Outstanding of 146807849 and a Short% of Float of 20.43.

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