While Rivian Automotive Inc has overperformed by 0.08%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RIVN fell by -34.11%, with highs and lows ranging from $24.61 to $8.26, whereas the simple moving average fell by -0.09% in the last 200 days.
On November 08, 2024, BofA Securities Downgraded Rivian Automotive Inc (NASDAQ: RIVN) to Neutral. A report published by Morgan Stanley on September 25, 2024, Downgraded its rating to ‘Equal-Weight’ for RIVN. Deutsche Bank also rated RIVN shares as ‘Hold’, setting a target price of $14 on the company’s shares in an initiating report dated September 10, 2024. Needham resumed its ‘Buy’ rating for RIVN, as published in its report on June 28, 2024. Wedbush’s report from June 26, 2024 suggests a price prediction of $20 for RIVN shares, giving the stock a ‘Outperform’ rating. Cantor Fitzgerald also rated the stock as ‘Overweight’.
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Analysis of Rivian Automotive Inc (RIVN)
Further, the quarter-over-quarter decrease in sales is -34.63%, showing a negative trend in the upcoming months.
One of the most important indicators of Rivian Automotive Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -67.16% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.70, 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.
For any stock, average volume can also provide valuable insight into volatility, and RIVN is recording 36.03M average volume. On a monthly basis, the volatility of the stock is set at 7.43%, whereas on a weekly basis, it is put at 6.98%, with a gain of 2.41% over the past seven days. Furthermore, long-term investors anticipate a median target price of $14.74, showing growth from the present price of $11.88, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As opposed to executive stock, institutional ownership accounts for 43.82% 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 43.82% at present.
