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

10.73

Mkt cap

12B

Volume

20M

High

10.80

P/E Ratio

-2.29

52-wk high

18.86

Low

10.58

Div yield

N/A

52-wk low

8.26

Rivian Automotive shares are trading higher following a report suggesting the company has simplified its output and cut costs.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:54 pm

Rivian is implementing significant cost-cutting measures and manufacturing efficiencies to achieve its first profit. The company has reduced material costs by 35% for its vans and expects similar savings for its R1 SUVs and pickups. These changes are aimed at calming investor concerns and improving financial stability.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 5:29 pm

GameStop and First Solar were among the ten biggest large-cap losers last week. GameStop shares fell 18.61% after its annual shareholder meeting, while First Solar shares dropped 8.87% following a downgrade. Other notable losers include Enphase Energy, Albemarle Corporation, and BioNTech SE.

Portfolio Pulse from Lekha Gupta

June 23, 2024 | 3:59 pm

This week in the EV sector, Tesla analysts lowered their expectations ahead of Q2 deliveries, Fisker filed for bankruptcy, Nikola confirmed a 30-for-1 reverse stock split, and Canoo announced a secondary offering. Additionally, Canada is considering tariffs on Chinese EV imports.

Portfolio Pulse from Shanthi Rexaline

June 22, 2024 | 1:15 pm

Rivian Automotive has redesigned its R1 pickup and SUV models using Nvidia chips, enhancing range, performance, and computing power. Rivian also plans to launch a less-expensive EV in 2026. Worksport reported record sales in May and introduced a solar-powered tonneau cover for electric pickups. Despite an EV market slowdown, innovation continues.

Portfolio Pulse from Upwallstreet

June 20, 2024 | 5:50 pm

Fisker Inc (OTCPK: FSRN) has filed for bankruptcy due to significant cash flow and manufacturing problems, leading to questions about the viability of the EV market. The bankruptcy follows a series of setbacks, including canceled pre-orders and a recall of its Ocean SUV. The news has implications for other EV manufacturers like Tesla, Rivian, and Lucid, as well as traditional automakers like Ford, GM, and Stellantis, who are also investing heavily in EVs.

Portfolio Pulse from Hayden Buckfire

June 18, 2024 | 9:26 pm

In the last three months, 15 analysts have published ratings on Rivian Automotive (NASDAQ:RIVN), with a range of perspectives from bullish to bearish. The average 12-month price target has decreased by 6.26% to $12.73. Analysts have adjusted their ratings and price targets, reflecting changing market dynamics and company performance.

Portfolio Pulse from Benzinga Insights

June 17, 2024 | 8:01 pm

Cantor Fitzgerald analyst Andres Sheppard has reiterated an Overweight rating on Rivian Automotive (NASDAQ:RIVN) and maintained a $15 price target.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 5:35 pm

The EV sector saw significant developments this week, including Tesla's shareholder meeting, Fisker's recall, Workhorse's reverse stock split, and Faraday Future's new deliveries. Tesla's reapproval of Elon Musk's compensation plan and optimistic future projections were key highlights. Fisker faced challenges with a major recall, while Workhorse announced a reverse stock split and strategic collaborations. Faraday Future resumed deliveries and hinted at an affordable EV. Ford eased dealer investment norms due to slow EV adoption. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 3.83% for the week.

Portfolio Pulse from Shanthi Rexaline

June 15, 2024 | 2:53 pm

Rivian Automotive Inc. (NASDAQ:RIVN) has opened a new 'space' in Austin, Texas, close to Tesla's gigafactory. This move is part of Rivian's strategy to compete with Tesla in the electric vehicle market. Rivian's new space will showcase its lineup, including the R1S SUV and R1T pickup truck, which compete with Tesla's Model X and Cybertruck, respectively. Rivian aims to reach positive gross profit by the end of 2024 despite current financial losses.

Portfolio Pulse from Anan Ashraf

June 14, 2024 | 9:25 am

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