Rivian Automotive Inc (NASDAQ:RIVN) traded at $9.04 at close of the session on Friday, April 26, made an upward move of 6.10% on its previous day’s price.
Looking at the stock we see that its previous close was $8.52 . In terms of its 52-week price range, RIVN has a high of $28.06 and a low of $8.26. The company’s stock has lost about -17.74% over that past 30 days.
Rivian Automotive Inc has a market cap of $8.84 billion. Estimates by analysts give the company expected earnings per share (EPS) of -$1.17, with the EPS growth for the year raised at -$4.02 for 2024 and -$2.52 for next year. These figures represent 17.60% and 37.30% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $1.17 billion, with a low of $1.04 billion and a high of $1.37 billion. The median projection represents growth squeezing down to 76.40% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $4.84 billion, or 9.00% up from figures reported last year.
On the other hand, looking at the outlook for the RIVN stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Looking further, we note the current price level is -5.76% off its SMA20 and -18.33% from its 50-day simple moving average. The RSI (14) is pointing at 40.39 while the volatility over the past week is 5.62% and jumps to 5.35% over the past one month. The beta value is 1.93, while the average true range (ATR) is currently pointing at 0.58.
Coming back to Rivian Automotive Inc (NASDAQ:RIVN), we note that the average 3-month trading volume was 45.28 million. Current shares outstanding are 960.00 million.
The insiders hold 28.34% of the company’s shares while institutions hold 50.52%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -61.47% down in year-to-date price movement.
