Rivian Automotive Inc (NASDAQ:RIVN) shares traded 4.25% higher at $11.04 on Wall Street last session.
RIVN stock price is now -2.28% away from the 50-day moving average and -9.87% away from the 200-day moving average. The market capitalization of the company currently stands at $11.73B.
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With the price target reduced from $20 to $13, BofA Securities Downgraded its rating from Buy to Neutral for Rivian Automotive Inc (NASDAQ: RIVN). On September 25, 2024, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock reducing its target price from $16 to quote $13, while ‘Deutsche Bank’ rates the stock as ‘Hold’
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 $9.79 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 27.57% 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 0.99, a current ratio of 5.09, and a quick ratio of 3.70. The fifty day moving average price for RIVN is $11.359 and a two-hundred day moving average price translates $12.270525 for the stock.
The latest earnings results from Rivian Automotive Inc (NASDAQ: RIVN) was released for 2024-09-30. The net profit margin was -121.38% and return on equity was -67.16% for RIVN. The company reported revenue of $874.0 million for the quarter, compared to $1.34 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -34.63 percent.
