After finishing at $10.80 in the prior trading day, Rivian Automotive Inc (NASDAQ: RIVN) closed at $10.65, down -1.39%. In other words, the price has decreased by -$0.15 from its previous closing price. On the day, 50381539 shares were traded.
Ratios:
Our goal is to gain a better understanding of RIVN by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 3.90 and its Current Ratio is at 4.95. In the meantime, Its Debt-to-Equity ratio is 0.54 whereas as Long-Term Debt/Eq ratio is at 0.53.
On March 15, 2024, Piper Sandler Upgraded its rating to Overweight which previously was Neutral and also upped its target price recommendation from $15 to $21.
On March 07, 2024, Jefferies started tracking the stock assigning a Buy rating and target price of $16.Jefferies initiated its Buy rating on March 07, 2024, with a $16 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. 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 10.57B and an Enterprise Value of 6.31B. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.33 while its Price-to-Book (P/B) ratio in mrq is 1.13. Its current Enterprise Value per Revenue stands at 1.42 whereas that against EBITDA is -1.48.
Stock Price History:
Over the past 52 weeks, RIVN has reached a high of $28.06, while it has fallen to a 52-week low of $10.05. The 50-Day Moving Average of the stock is 13.80, while the 200-Day Moving Average is calculated to be 18.68.
Shares Statistics:
The stock has traded on average 42.36M shares per day over the past 3-months and 38.95M shares per day over the last 10 days, according to various share statistics. A total of 960.00M shares are outstanding, with a floating share count of 687.92M. Insiders hold about 28.93% of the company’s shares, while institutions hold 51.00% stake in the company. Shares short for RIVN as of Feb 29, 2024 were 122.38M with a Short Ratio of 2.89, compared to 101.8M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 12.52% and a Short% of Float of 21.40%.
Earnings Estimates
Its stock is currently analyzed by 16 different market analysts. On average, analysts expect EPS of -$1.15 for the current quarter, with a high estimate of -$1.04 and a low estimate of -$1.33, while EPS last year was -$1.25. The consensus estimate for the next quarter is -$1.12, with high estimates of -$0.85 and low estimates of -$1.43.
Analysts are recommending an EPS of between -$3.35 and -$5.21 for the fiscal current year, implying an average EPS of -$4.04. EPS for the following year is -$2.52, with 19 analysts recommending between -$0.81 and -$5.6.
Revenue Estimates
17 analysts predict $1.13B in revenue for the current quarter. It ranges from a high estimate of $1.37B to a low estimate of $1.04B. As of the current estimate, Rivian Automotive Inc’s year-ago sales were $661M, an estimated increase of 70.30% from the year-ago figure. For the next quarter, 17 analysts are estimating revenue of $965.42M, a decrease of -3.50% less than the figure of $70.30% in the same quarter last year. There is a high estimate of $1.26B for the next quarter, whereas the lowest estimate is $449.44M.
A total of 23 analysts have provided revenue estimates for RIVN’s current fiscal year. The highest revenue estimate was $5.64B, while the lowest revenue estimate was $4.3B, resulting in an average revenue estimate of $4.82B. In the same quarter a year ago, actual revenue was $4.43B, up 8.80% from the average estimate. Based on 23 analysts’ estimates, the company’s revenue will be $7.52B in the next fiscal year. The high estimate is $9.53B and the low estimate is $5.11B. The average revenue growth estimate for next year is up 55.90% from the average revenue estimate for this year.
