Rivian Automotive Inc (NASDAQ: RIVN) stock jumped 1.89% on Friday to $16.70 against a previous-day closing price of $16.39. With 30.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 36.51 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $16.95 whereas the lowest price it dropped to was $16.30. The 52-week range on RIVN shows that it touched its highest point at $32.76 and its lowest point at $11.68 during that stretch. It currently has a 1-year price target of $26.62. Beta for the stock currently stands at 1.96.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RIVN was up-trending over the past week, with a rise of 8.44%, but this was down by -2.68% over a month. Three-month performance dropped to -21.15% while six-month performance rose 23.98%. The stock lost -49.88% in the past year, while it has lost -9.39% so far this year. A look at the trailing 12-month EPS for RIVN yields -6.02 with Next year EPS estimates of -3.72. For the next quarter, that number is -1.34. This implies an EPS growth rate of 21.25% for this year and 25.53% for next year.
Float and Shares Shorts:
At present, 918.00 million RIVN shares are outstanding with a float of 665.94 million shares on hand for trading. On Oct 30, 2023, short shares totaled 105.19 million, which was 10.98% higher than short shares on Sep 28, 2023. In addition to Mr. Robert Joseph Scaringe Ph.D. as the firm’s Founder, CEO & Chairman of the Board, Ms. Claire McDonough serves as its Chief Financial Officer.
Through their ownership of 62.80% of RIVN’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RIVN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RIVN analysts setting a high price target of $40.00 and a low target of $15.00, the average target price over the next 12 months is $26.62. Based on these targets, RIVN could surge 139.52% to reach the target high and fall by -10.18% to reach the target low. Reaching the average price target will result in a growth of 59.4% from current levels.
Summary of Insider Activity:
Insiders traded RIVN stock several times over the past three months with 2 Buys and 1 Sells. In these transactions, 402,902 shares were bought while 3,265 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 602,284 while 1,799,520 shares were sold.