In yesterday’s Wall Street session, Rivian Automotive Inc (NASDAQ:RIVN) shares traded at $9.38, up 3.76% from the previous session.
RIVN stock price is now -14.25% away from the 50-day moving average and -47.33% away from the 200-day moving average. The market capitalization of the company currently stands at $9.17B.
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With the price target reduced from $18 to $13, Needham maintained Buy rating for Rivian Automotive Inc (NASDAQ: RIVN). On April 16, 2024, UBS Upgraded its previous ‘Sell’ rating to ‘Neutral’ on the stock keeping its target price maintained at $9, while ‘Mizuho’ rates the stock as ‘Neutral’
In other news, Baker Jeff, Chief Accounting Officer sold 31,425 shares of the company’s stock on Mar 11 ’24. The stock was sold for $414,219 at an average price of $13.18. Upon completion of the transaction, the Chief Accounting Officer now directly owns 52,415 shares in the company, valued at $0.49 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 08 ’24, Chief Commercial Officer Gruner Kjell sold 19,935 shares of the business’s stock. A total of $255,367 was realized by selling the stock at an average price of $12.81. This leaves the insider owning 407,787 shares of the company worth $3.83 million. A total of 28.34% of the company’s stock is owned by insiders.
During the past 12 months, Rivian Automotive Inc has had a low of $8.26 and a high of $28.06. As of last week, the company has a debt-to-equity ratio of 0.54, a current ratio of 4.95, and a quick ratio of 3.90.
The net profit margin was -122.51% and return on equity was -47.36% for RIVN. The company reported revenue of $1.31 billion for the quarter, compared to $663.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 98.34 percent.
