In yesterday’s Wall Street session, Rivian Automotive Inc (NASDAQ:RIVN) shares traded at $13.39, down -4.01% from the previous session.
RIVN stock price is now -5.19% away from the 50-day moving average and -6.75% away from the 200-day moving average. The market capitalization of the company currently stands at $13.33B.
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With the price target enhanced from $13 to $20, Needham maintained Buy rating for Rivian Automotive Inc (NASDAQ: RIVN). On June 26, 2024, Wedbush reiterated its ‘Outperform’ rating on the stock by increasing its target price from $15 to quote $20, while ‘Cantor Fitzgerald’ rates the stock as ‘Overweight’
In other news, Scaringe Robert J, Chief Executive Officer sold 71,429 shares of the company’s stock on Jul 22 ’24. The stock was sold for $1,215,750 at an average price of $17.02. Upon completion of the transaction, the Chief Executive Officer now directly owns 909,691 shares in the company, valued at $12.18 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 12 ’24, Chief Executive Officer Scaringe Robert J sold 200,000 shares of the business’s stock. A total of $3,600,220 was realized by selling the stock at an average price of $18.00. This leaves the insider owning 909,691 shares of the company worth $12.18 million. A total of 27.93% 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 $24.87. As of last week, the company has a debt-to-equity ratio of 0.86, a current ratio of 5.25, and a quick ratio of 4.01. The fifty day moving average price for RIVN is $14.1707 and a two-hundred day moving average price translates $14.339475 for the stock.
The latest earnings results from Rivian Automotive Inc (NASDAQ: RIVN) was released for 2024-06-30. The net profit margin was -115.50% and return on equity was -62.50% for RIVN. The company reported revenue of $1.16 billion for the quarter, compared to $1.12 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.3 percent. For the current quarter, analysts expect RIVN to generate $1.15B in revenue.
