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) shares fell by 1.3% to $19.24 on Friday after reporting Q4 deliveries of 13,972 vehicles, slightly below the expected 14,114. The stock has seen an 18% decline since the beginning of 2024. Fund manager Gary Black commented that the market's reaction might be overblown, despite a 10% drop in deliveries from the previous quarter. Rising Treasury yields are also affecting growth stocks like Rivian, as higher interest rates increase the discount rate, reducing the present value of future cash flows and affecting stock valuations. RIVN's 52-week range is between $11.68 and $28.06.

Portfolio Pulse from Henry Khederian

January 05, 2024 | 5:40 pm

Rivian Automotive (NASDAQ:RIVN) has received mixed evaluations from 8 analysts in the past three months, with an average 12-month price target of $24.62, down from the previous $27.50. Recent actions include lowered price targets by Goldman Sachs, Cantor Fitzgerald, Wells Fargo, and Wedbush, while Stifel, Cantor Fitzgerald, Needham, and UBS have given positive ratings. Rivian's financials show strong revenue growth but a high net margin loss, below-average ROE and ROA, and a conservative debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 5:00 pm

Wolfe Research analyst Rod Lache has downgraded Rivian Automotive (NASDAQ:RIVN) from Outperform to Peer Perform, indicating a change in the firm's outlook on the electric vehicle manufacturer's stock.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:16 pm

Rivian Automotive Inc. (RIVN) reported Q4 deliveries, meeting annual targets despite a quarterly drop. Tesla Inc. (TSLA) exceeded expectations with strong Q4 deliveries and annual production, maintaining its lead in battery-only EVs over BYD. Worksport Ltd. (WKSP) announced a partnership with NeuronicWorks for its COR portable battery system, emphasizing its commitment to North American manufacturing. Tesla and Rivian are set to discuss Q4 results on January 24th and February 21st, respectively, shedding light on the US's position in the EV market.

Portfolio Pulse from Upwallstreet

January 03, 2024 | 2:47 pm

Cloudflare CEO Matthew Prince criticized Rivian Automotive for high service costs after receiving a $4,200 quote for a windshield repair on his Rivian R1T truck. Prince compared the costs unfavorably to those of his Porsche Taycan and highlighted the insurance cost implications. He expressed his support for Rivian but cautioned against their service costs. Other Rivian owners have reported similar experiences with high repair bills and long service wait times.

Portfolio Pulse from Ramakrishnan M

January 03, 2024 | 11:11 am

Gary Black, Future Fund Managing Partner, suggests Rivian's Q4 delivery shortfall is due to increased production of electric delivery vans (EDVs) for Amazon, which can only accept a limited number during the holiday season. Despite producing 17,541 vehicles, Rivian delivered only 13,972. Black also notes that interest in Tesla's Cybertruck could benefit Rivian as they are a close competitor in the EV truck segment.

Portfolio Pulse from Anan Ashraf

January 03, 2024 | 4:23 am

Rivian Automotive Inc (NASDAQ:RIVN) experienced a stock sell-off after reporting Q4 deliveries that slightly missed forecasts, with 13,972 EVs delivered against an expected 14,114. However, production exceeded expectations at 17,541 vehicles, suggesting supply constraints rather than demand issues. Future Fund's Gary Black anticipates Rivian's 2024 production guidance to be at least 70,000 units. Rivian is seen as a potential strong competitor to Tesla Inc (NASDAQ:TSLA), which exceeded its Q4 delivery and production targets.

Portfolio Pulse from Shanthi Rexaline

January 02, 2024 | 7:18 pm

Longboard Pharmaceuticals, Inc. (LBPH) shares soared by approximately 200% after announcing positive topline data from their PACIFIC Phase 1b/2a study of bexicaserin (LP352) for seizures associated with Developmental and Epileptic Encephalopathies (DEEs). Other stocks experienced significant movement in Tuesday's mid-day session, with various companies seeing substantial gains or losses.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 6:35 pm

Wall Street began 2024 with declines in major indices, particularly the S&P 500 and Nasdaq 100, dragged down by the tech sector. Tesla (TSLA) remained flat, while Apple (AAPL) and NVIDIA (NVDA), along with semiconductor ETFs like SOXX, saw significant drops. The decline in tech stocks was partly due to a White House request to limit chip exports to China. The dollar and Treasury yields surged, while commodities had a mixed day. Bitcoin (BTC) rose, anticipating a Bitcoin ETF approval. Sector ETFs like SPY, DIA, and QQQ moved in line with their respective indices, while XLV outperformed and XLK lagged. Biotech stocks and ETFs like IBB performed well, whereas semiconductor ETFs like SMH declined. Moderna (MRNA) surged after an Oppenheimer upgrade, while Rivian (RIVN) and cruise lines like NCLH and RCL saw stock price declines.

Portfolio Pulse from Piero Cingari

January 02, 2024 | 6:29 pm

In Tuesday's intraday session, several consumer discretionary stocks experienced significant movements. Polished.com (POL) led the gainers with a 45.7% increase, while Jeffs Brands (JFBR) saw the largest decline among the losers, falling 14.4%. Other notable movers included Dogness (DOGZ), PLBY Group (PLBY), and Rivian Automotive (RIVN). Market capitalizations varied, with Rivian Automotive and VinFast Auto (VFS) being the largest companies mentioned.

Portfolio Pulse from Benzinga Insights

January 02, 2024 | 5:31 pm

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