May 27, 2024

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Rivian Automotive (NASDAQ:RIVN) Announces Quarterly Earnings Results

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Rivian Automotive (NASDAQ:RIVNGet Score) produced its quarterly earnings benefits on Wednesday. The electrical motor vehicle automaker documented -1.43 earnings for every share for the quarter, topping the consensus estimate of -1.46 by .03, Fidelity Earnings stories.

Shares of Rivian Automotive inventory traded up 2.52 on Friday, reaching 26.82. The inventory experienced a trading volume of 700,425 shares, in comparison to its normal quantity of 19,867,736. The stock’s 50 day relocating typical price tag is 38.59. The company has a latest ratio of 14.14, a brief ratio of 13.93 and a debt-to-fairness ratio of .06. Rivian Automotive has a 1 yr reduced of 19.25 and a 1 yr large of 179.47.

A number of equities exploration analysts have weighed in on the inventory. Exane BNP Paribas raised shares of Rivian Automotive from an “underperform” rating to a “neutral” rating in a report on Thursday. Wolfe Study decreased their focus on rate on Rivian Automotive from $130.00 to $78.00 and established an “outperform” rating for the corporation in a study report on Friday, March 11th. Barclays lower their cost objective on Rivian Automotive from $38.00 to $24.00 in a research take note on Friday. Deutsche Bank Aktiengesellschaft dropped their focus on value on shares of Rivian Automotive from $90.00 to $69.00 in a report on Friday. At last, Robert W. Baird lowered their selling price goal on Rivian Automotive from $84.00 to $67.00 in a study report on Thursday. 1 analyst has rated the inventory with a offer ranking, 6 have given a maintain score and twelve have assigned a acquire ranking to the company. According to knowledge from MarketBeat.com, the corporation has a consensus score of “Buy” and an typical value focus on of 74.59.

In other Rivian Automotive news, significant shareholder Motor Co Ford bought 8,000,000 shares of the inventory in a transaction that happened on Monday, Could 9th. The shares had been bought at an common cost of 26.80, for a complete value of 214,400,000.00. Next the sale, the insider now instantly owns 93,947,494 shares in the corporation, valued at around 2,517,792,839.20. The transaction was disclosed in a submitting with the Securities & Exchange Fee, which is accessible through the SEC web site.

A range of large investors have not too long ago designed variations to their positions in the inventory. Jaffetilchin Financial investment Companions LLC ordered a new stake in Rivian Automotive for the duration of the fourth quarter valued at about $319,000. D.A. Davidson & CO. grew its stake in shares of Rivian Automotive by 9.1% during the to start with quarter. D.A. Davidson & CO. now owns 6,176 shares of the electrical auto automaker’s stock valued at $310,000 after acquiring an extra 515 shares in the course of the final quarter. Brighton Jones LLC lifted its situation in Rivian Automotive by 63.5% in the very first quarter. Brighton Jones LLC now owns 5,334 shares of the electric powered car or truck automaker’s inventory valued at $268,000 just after purchasing an further 2,072 shares during the very last quarter. Millennium Administration LLC bought a new place in shares of Rivian Automotive in the fourth quarter worth close to $245,000. Finally, Built-in Prosperity Concepts LLC bought a new posture in shares of Rivian Automotive in the fourth quarter really worth $242,000. Institutional traders possess 78.67% of the company’s stock.

Rivian Automotive Enterprise Profile (Get Score)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric cars and add-ons. The corporation presents 5-passenger pickup vehicles and sporting activities utility cars. It gives Rivian Professional Auto platform for electric Supply Van with collaboration with Amazon.com. The business sells its solutions straight to prospects in the client and business markets.

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