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

Rivian announced the integration of Apple Music's premium spatial audio with Dolby Atmos support into all its electric vehicles for Apple Music subscribers.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 1:21 pm

Rivian Automotive Inc (NASDAQ:RIVN) shares fell 3.55% to $13.46 following its Q2 earnings report. The company reported $1.16 billion in revenue, surpassing estimates, but posted a larger-than-expected loss of $1.46 per share. Rivian produced 9,612 vehicles and delivered 13,790 in the quarter. The company's liquidity was bolstered by a $1 billion unsecured convertible note from Volkswagen.

Portfolio Pulse from Henry Khederian

August 12, 2024 | 7:40 pm

The EV market experienced a turbulent week with significant developments. Tesla launched its Cybertruck in Canada and reported strong sales in China, but faced criticism from Sen. Elizabeth Warren. Rivian and Nikola exceeded Q2 expectations, while Lucid received a $1.5 billion cash infusion from its largest shareholder. Canoo faced a lawsuit, and Huawei entered the EV market. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 2.58% for the week.

Portfolio Pulse from Shanthi Rexaline

August 10, 2024 | 1:30 pm

Rivian Automotive (NASDAQ:RIVN) has announced a promotional roadshow for its upcoming R2 SUV and R3X crossover, starting from Pasadena and traveling to various cities until February next year. The R2 is a smaller, more affordable version of the R1S SUV, with production expected in early 2026. The R3X is a performance variant of the R3 crossover, which will be priced lower than the R2. Rivian aims to expand its market with these new, cheaper EVs. Despite a Q2 loss, the company expects positive gross profit by Q4 2024 and for the full year 2025.

Portfolio Pulse from Anan Ashraf

August 09, 2024 | 12:36 pm

The latest earnings reports from Rivian and Lucid highlight the struggles of pure play EV makers and the importance of wealthy backers for their survival. Rivian benefits from a $5 billion joint venture with Volkswagen, while Lucid is supported by Saudi Arabia’s Public Investment Fund. Both companies are working on new models to attract customers. Worksport is also expanding its market presence with innovative products for electric pickups.

Portfolio Pulse from Upwallstreet

August 08, 2024 | 7:32 pm

Rivian shares are trading higher, potentially rebounding after a decline on Wednesday.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 7:20 pm

Rivian Automotive Inc (NASDAQ:RIVN) shares rose by 9.97% to $15.16 following the release of its second-quarter financial results. The company reported $1.16 billion in revenue, slightly above the consensus estimate of $1.13 billion, but posted a larger-than-expected loss per share of $1.46. Rivian produced 9,612 vehicles and delivered 13,790 in the quarter, and ended with $7.9 billion in cash and cash equivalents. Analysts revised their ratings post-earnings.

Portfolio Pulse from Henry Khederian

August 08, 2024 | 4:21 pm

Cantor Fitzgerald analyst Andres Sheppard has reiterated an Overweight rating on Rivian Automotive (NASDAQ:RIVN) and maintained a $19 price target.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 6:07 pm

The U.S. stock market is poised for its second consecutive day of gains, driven by positive earnings reports and reassurances from the Bank of Japan. The U.S. dollar surged against the yen, and crude oil prices spiked due to a larger-than-expected drawdown in U.S. crude inventories. Major indices and ETFs saw gains, with energy stocks leading the way.

Portfolio Pulse from Piero Cingari

August 07, 2024 | 4:46 pm

UBS analyst Joseph Spak maintains a Neutral rating on Rivian Automotive (NASDAQ:RIVN) but lowers the price target from $17 to $16.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 4:21 pm

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