Rivian Automotive Inc (NASDAQ:RIVN) shares traded 1.08% higher at $10.29 on Wall Street last session.
RIVN stock price is now -11.87% away from the 50-day moving average and -16.87% away from the 200-day moving average. The market capitalization of the company currently stands at $10.46B.
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 $16 to $13, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Rivian Automotive Inc (NASDAQ: RIVN). , while ‘Wolfe Research’ rates the stock as ‘Peer Perform’
In other news, Scaringe Robert J, Chief Executive Officer sold 83,333 shares of the company’s stock on Sep 23 ’24. The stock was sold for $969,588 at an average price of $11.64. Upon completion of the transaction, the Chief Executive Officer now directly owns 886,526 shares in the company, valued at $9.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 23 ’24, Officer ROBERT J. SCARINGE bought 83,333 shares of the business’s stock. A total of $969,588 was incurred on buying the stock at an average price of $11.64. A total of 27.56% 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 $24.61. 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 $11.7488 and a two-hundred day moving average price translates $12.403825 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.
