In yesterday’s Wall Street session, Rivian Automotive Inc (NASDAQ:RIVN) shares traded at $10.96, up 0.74% from the previous session.
RIVN stock price is now 7.91% away from the 50-day moving average and -29.72% away from the 200-day moving average. The market capitalization of the company currently stands at $10.91B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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, Scaringe Robert J, Chief Executive Officer sold 71,429 shares of the company’s stock on Jun 10 ’24. The stock was sold for $820,891 at an average price of $11.49. Upon completion of the transaction, the Chief Executive Officer now directly owns 909,691 shares in the company, valued at $9.97 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 16 ’24, Chief Financial Officer McDonough Claire sold 3,210 shares of the business’s stock. A total of $32,902 was realized by selling the stock at an average price of $10.25. This leaves the insider owning 405,422 shares of the company worth $4.44 million. A total of 27.91% 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 0.59, a current ratio of 4.71, and a quick ratio of 3.55. The fifty day moving average price for RIVN is $10.1736 and a two-hundred day moving average price translates $15.53625 for the stock.
The latest earnings results from Rivian Automotive Inc (NASDAQ: RIVN) was released for 2024-03-31. The net profit margin was -111.09% and return on equity was -53.14% for RIVN. The company reported revenue of $1.2 billion for the quarter, compared to $661.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 82.15 percent.
