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

10.07

Mkt cap

10B

Volume

78M

High

10.07

P/E Ratio

-1.80

52-wk high

24.61

Low

9.55

Div yield

N/A

52-wk low

8.26

Rivian Automotive Inc (NASDAQ:RIVN) is set to report its Q4 earnings on Feb. 21, with Wall Street expecting a negative $1.32 EPS and $1.26 billion in revenues. The stock has faced a 21% decline over the past year and is currently showing a bearish 'Death Cross' technical indicator. Analyst consensus rates RIVN as a Buy with a target price of $23.46, though Barclays downgraded it to Equal Weight with a $16 target. Rivian's rival, Tesla (NASDAQ:TSLA), is also mentioned in the context of the EV industry.

Portfolio Pulse from Surbhi Jain

February 20, 2024 | 2:00 pm

Rivian Automotive Inc (NASDAQ:RIVN) plans to enter the European market with its upcoming R2 vehicle, initially launching in the US and Canada. The R2, set for a reveal on March 7, aims to fill a market gap with a more compact and affordable option in the $45,000 to $50,000 range, targeting midsize SUVs. Rivian's current models, the R1T and R1S, are priced around $70,000. Additionally, Rivian's collaboration with Amazon has already seen electric delivery vans deployed in Europe.

Portfolio Pulse from Anan Ashraf

February 20, 2024 | 5:37 am

Today's session highlighted significant whale activity in the Consumer Discretionary sector, with notable options trading on stocks like TSLA, PLNT, JD, BABA, DKNG, LAZR, SBUX, CVNA, ABNB, and RIVN. The trades varied in sentiment from neutral to bullish and bearish, indicating diverse expectations for these stocks' future movements. The activity involved both call and put options, with varying expiration dates, strike prices, and total trade prices, suggesting strategic positioning by large investors.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 5:35 pm

Electric vehicle stocks had mixed performances in the week ending Feb. 16, with Tesla seeing a third week of gains and Rivian pulling back after a previous rally. Key events included Tesla's Model 3 LR price hike, Stellantis adopting Tesla's charging standard, a temporary relaxation of a strike against Tesla, Rivian teasing its R2 platform, Lucid's price cuts and CEO bonus controversy, and GM and Ford's openness to partnerships against Chinese rivals. Fisker announced dealer partnerships, and the KraneShares Electric Vehicles ETF saw a weekly gain.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 2:18 pm

Rivian Automotive Inc. (NASDAQ:RIVN) is developing customizable interior ambient lighting for its R1 model, akin to Tesla's refreshed Model 3. This feature was confirmed in response to a user's request on X, showcasing Rivian's focus on enhancing user experience and personalization. The company demonstrated this capability by changing the interior lighting to orange for Halloween 2023. This development is part of Rivian's strategy to compete in the electric vehicle market by offering features comparable to those in vehicles like the Porsche Taycan and Kia EV6, despite the R1's higher price point.

Portfolio Pulse from Anan Ashraf

February 16, 2024 | 12:22 pm

Rivian Automotive, Inc. (NASDAQ:RIVN) teased the launch of its new electric-vehicle platform, R2, with a video emphasizing adventure. The global unveiling is set for March 7, with reservations opening during the event for a $100 deposit. The R2 aims to offer a compact design and lower price, targeting the midsize SUV market. Rivian's stock rose 1.41% in premarket trading following the announcement.

Portfolio Pulse from Shanthi Rexaline

February 16, 2024 | 10:18 am

Shares of automobile, EV, and auto part manufacturers are down following January CPI data indicating a higher-than-expected inflation rise.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:46 pm

Rivian Automotive Inc (NASDAQ:RIVN) shares fell 7.7% to $15.08 amid broader automotive sector declines after January 2024 inflation rates missed forecasts. The annual CPI inflation rate dropped to 3.1% from 3.4%, above the expected 2.9%. Higher-than-expected inflation could increase operational costs for Rivian, potentially squeezing profit margins and leading to investor sell-off.

Portfolio Pulse from Henry Khederian

February 13, 2024 | 4:27 pm

Barclays analyst Dan Levy downgraded Rivian Automotive Inc (NASDAQ:RIVN) from Overweight to Equal-Weight and lowered the price target from $25 to $16 due to broader EV market trends and specific challenges Rivian faces, including supply constraints and weak demand for its products. Despite Rivian's potential as a long-term winner in the EV space, Levy believes these issues will likely cause Rivian to miss its 2024 target of reaching gross margin profitability.

Portfolio Pulse from Adam Eckert

February 12, 2024 | 6:48 pm

Rivian Automotive's stock trades lower following a downgrade by Barclays from Overweight to Equal-Weight and a reduction in the price target from $25 to $16.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 1:49 pm

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