Rivian Automotive Inc (NASDAQ:RIVN) shares, rose in value, with the stock price down by -3.89% to the previous day’s close as strong demand from buyers drove the stock to $10.13.
Actively observing the price movement in the last trading, the stock closed the session at $10.54. The value of beta (5-year monthly) was 1.89. Referring to stock’s 52-week performance, its high was $28.06, and the low was $10.05. On the whole, RIVN has fluctuated by -7.32% over the past month.
With the market capitalization of Rivian Automotive Inc currently standing at about $9.90 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$1.16, which is expected to increase to -$0.85 for fiscal year -$4.05 and then to about -$2.54 by fiscal year 2025. Data indicates that the EPS growth is expected to be 17.00% in 2025, while the next year’s EPS growth is forecast to be 37.30%.
Analysts have estimated the company’s revenue for the quarter at $1.13 billion, with a low estimate of $1.04 billion and a high estimate of $1.37 billion. According to the average forecast, sales growth in current quarter could jump up 71.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $4.83 billion, representing an increase of 8.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that RIVN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RIVN currently trading nearly -10.38% and -22.64% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.45, while the 7-day volatility ratio is showing 4.81% which for the 30-day chart, stands at 6.11%. Furthermore, Rivian Automotive Inc (RIVN)’s beta value is 1.88, and its average true range (ATR) is 0.71.
A comparison of Rivian Automotive Inc (RIVN) with its peers suggests the former has fared considerably weaker in the market. RIVN showed an intraday change of -3.89% in last session, and over the past year, it shrunk by -33.49%%.
Data on historical trading for Rivian Automotive Inc (NASDAQ:RIVN) indicates that the trading volumes over the past 10 days have averaged 34.94 million and over the past 3 months, they’ve averaged 42.94 million. According to company’s latest data on outstanding shares, there are 960.00 million shares outstanding.
Nearly 28.92% of Rivian Automotive Inc’s shares belong to company insiders and institutional investors own 50.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 119.44 million shares as on Mar 15, 2024, resulting in a short ratio of 1.88. According to the data, the short interest in Rivian Automotive Inc (RIVN) stood at 12.22% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 112.44 million. The stock has fallen by -56.82% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RIVN stock heading into the next quarter.
