While Rivian Automotive Inc has overperformed by 2.58%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RIVN fell by -20.23%, with highs and lows ranging from $28.06 to $8.26, whereas the simple moving average fell by -40.73% in the last 200 days.
On April 18, 2024, Needham Reiterated Rivian Automotive Inc (NASDAQ: RIVN) to Buy. A report published by UBS on April 16, 2024, Upgraded its rating to ‘Neutral’ for RIVN. Mizuho also Downgraded RIVN shares as ‘Neutral’, setting a target price of $12 on the company’s shares in a report dated March 25, 2024. Piper Sandler March 15, 2024d the rating to Overweight on March 15, 2024, and set its price target from $15 to $21. Jefferies initiated its ‘Buy’ rating for RIVN, as published in its report on March 07, 2024. Truist’s report from February 26, 2024 suggests a price prediction of $11 for RIVN shares, giving the stock a ‘Hold’ rating. UBS also rated the stock as ‘Sell’.
Analysis of Rivian Automotive Inc (RIVN)
Further, the quarter-over-quarter increase in sales is 98.34%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Rivian Automotive Inc’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -47.36% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and RIVN is recording an average volume of 45.94M. On a monthly basis, the volatility of the stock is set at 5.70%, whereas on a weekly basis, it is put at 6.12%, with a gain of 10.13% over the past seven days. Furthermore, long-term investors anticipate a median target price of $15.41, showing growth from the present price of $10.33, which can serve as yet another indication of whether RIVN is worth investing in or should be passed over.
How Do You Analyze Rivian Automotive Inc Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 28.33%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 52.45% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
RIVN shares are owned by institutional investors to the tune of 52.45% at present.
