Streetbeat News

RIVN

Rivian Automotive, Inc.

Industry

Auto - Manufacturers

Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets. Rivian Automotive, Inc. was founded in 2009 and is based in San Jose, California.

Open

14.02

Mkt cap

15B

Volume

31M

High

14.41

P/E Ratio

-2.57

52-wk high

24.61

Low

13.75

Div yield

N/A

52-wk low

8.26

Analysts have provided mixed ratings for Rivian Automotive (NASDAQ:RIVN) over the past three months, with a decrease in the average 12-month price target. The company's financials show a notable revenue growth but challenges in profitability and asset utilization.

Portfolio Pulse from Benzinga Insights

October 15, 2024 | 2:00 pm

Wells Fargo analyst Colin Langan maintains an Equal-Weight rating on Rivian Automotive but lowers the price target from $15 to $11.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 1:55 pm

Tesla's Cybertruck outsold all other EV trucks in the US in Q3, with 16,692 units sold, surpassing the combined sales of Rivian's R1T and Ford's F-150 Lightning. This surge has impacted Tesla's Model S and X sales negatively, but overall Tesla's US sales rose by 7%.

Portfolio Pulse from Anan Ashraf

October 15, 2024 | 9:07 am

Tesla's aggressive price cuts on new models have led to a 25% drop in used EV prices, impacting dealers and owners. The influx of Tesla vehicles from Hertz and a rise in leasing have further depressed values. Despite this, the EV market is expected to grow, with Rivian entering the used market.

Portfolio Pulse from Benzinga Neuro

October 14, 2024 | 12:09 pm

Michael Cusick, a former Tesla enthusiast, has switched his loyalty to Rivian after his Rivian R1T electric truck survived Hurricane Helene unscathed. This incident highlights the durability of Rivian's vehicles and their strong customer service, potentially boosting consumer confidence in the brand.

Portfolio Pulse from Bibhu Pattnaik

October 12, 2024 | 8:00 pm

The EV sector faced a challenging week with most stocks declining. Tesla's 'We, Robot' event disappointed investors, leading to a 9% stock drop. Lucid exceeded Q3 delivery estimates, while GM revised its battery strategy. XPeng launched a new AI-defined sedan.

Portfolio Pulse from Shanthi Rexaline

October 12, 2024 | 7:45 pm

Benzinga highlights bullish and bearish stock stories, including Nvidia's institutional call-buying, Palantir's AI strategy, and Rivian's production cut due to supply issues. Alphabet faces potential breakup by DOJ, and Chinese stocks fall due to lack of stimulus.

Portfolio Pulse from Michael Cohen

October 12, 2024 | 2:30 pm

Amazon is set to deploy AI-powered technology, VAPR, on 1000 Rivian electric delivery vans to enhance package delivery efficiency. This move is part of Amazon's larger commitment to purchase 100,000 vans from Rivian by 2030. However, Rivian faces production challenges due to a component shortage.

Portfolio Pulse from Anan Ashraf

October 10, 2024 | 7:48 am

Rivian Automotive has reduced its 2024 output goal due to a supply chain disruption, impacting its production by 18% this year. Despite this, Rivian maintains its annual delivery outlook. Worksport Ltd is expanding its product compatibility with Rivian's R1T. General Motors is adjusting its EV strategy, dropping the 'Ultium' brand name but continuing its EV expansion.

Portfolio Pulse from Upwallstreet

October 09, 2024 | 7:33 pm

Amazon plans to deploy 1,000 electric delivery vans from Rivian by early 2025, featuring vision-assisted package retrieval and internal lighting to guide deliverers to the correct packages.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:07 pm

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