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) received approval to start construction of a new manufacturing facility in Georgia for its affordable R2 EVs. The plant represents a $5 billion investment and is expected to create 7,500 jobs. This move comes as Rivian aims to compete in the EV market, particularly in the $45,000 to $50,000 price range for midsize SUVs, where Tesla, Inc. (NASDAQ:TSLA) currently has a significant market share. Rivian's stock closed up 0.46% at $15.40 following the news.

Portfolio Pulse from Shanthi Rexaline

November 13, 2023 | 6:16 am

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower despite reporting solid Q3 earnings results that beat analyst estimates. The company also increased its 2023 production forecast due to production line advancements and an improved outlook on the supply chain. However, the stock has pulled back, trading lower by over 12% on Thursday. Additionally, two analysts have lowered their price targets on the stock.

Portfolio Pulse from Ryan Gustafson

November 09, 2023 | 9:01 pm

Rivian's stock is trading lower following a strong performance on Wednesday.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:46 pm

Benzinga's options activity scanner has identified significant trading activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Lucid Group (LCID), Nike (NKE), MGM Resorts (MGM), Airbnb (ABNB), Starbucks (SBUX), Rivian (RIVN), Ford (F), Booking Holdings (BKNG), and Wayfair (W). The options activity ranges from bullish to bearish sentiment, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 5:35 pm

ExxonMobil Corp (XOM) has overtaken Tesla Inc. (TSLA) to become the most shorted large-cap stock in the S&P 500, according to a report by HazelTree. ExxonMobil scored 99 on HazelTree's 'Crowdedness Score', indicating it is the most shorted by the highest percentage of funds tracked by the firm. Tesla scored 97. Rivian Automotive (RIVN) leads in terms of institutional supply utilization with 37%, significantly higher than ExxonMobil's 3.13% and Tesla's 2.67%.

Portfolio Pulse from Benzinga Neuro

November 09, 2023 | 8:58 am

Benzinga's options activity scanner has identified significant trading activity in 10 consumer discretionary stocks. Bullish sentiment was observed in Tesla (TSLA), Lucid Group (LCID), DraftKings (DKNG), Carvana (CVNA), NIO Inc. (NIO), and Luminar Technologies (LAZR). Bearish sentiment was observed in Airbnb (ABNB), Caesars Entertainment (CZR), and Rivian (RIVN). Neutral sentiment was observed in YETI Holdings (YETI).

Portfolio Pulse from Benzinga Insights

November 08, 2023 | 5:35 pm

Cantor Fitzgerald analyst Andres Sheppard has maintained an Overweight rating on Rivian Automotive (NASDAQ:RIVN) but lowered the price target from $29 to $27.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:06 pm

Rivian Automotive Inc (RIVN) shares dropped despite reporting positive Q3 results. The company reported a top line of $1.34B and delivered 15.6k vehicles. It raised its full-year production target from 52,000 to 54,000 units. The company's exclusivity with Amazon (AMZN) has ended, opening up to new customers. Analysts from Mizuho Securities, Cantor Fitzgerald, Goldman Sachs, RBC Capital Markets, Truist Securities, and Wedbush provided their insights and ratings on the company's performance.

Portfolio Pulse from Priya Nigam

November 08, 2023 | 5:05 pm

Rivian Automotive, Inc. (NASDAQ:RIVN) stock rallied in premarket trading following its Q3 results, which exceeded consensus estimates. The company reported a non-GAAP loss of $1.19 per share, narrower than the year-ago loss of $1.57 per share, and revenue climbed 150% to $1.34 billion. Rivian also raised its 2023 production guidance from 52,000 units to 54,000 units and ended its exclusivity agreement with Amazon for electric delivery vans. Needham analyst Chris Pierce reiterated a Buy rating on Rivian stock but reduced the price target from $31 to $25.

Portfolio Pulse from Shanthi Rexaline

November 08, 2023 | 12:31 pm

US stock futures indicate a flat opening after several consecutive gains. Traders are awaiting Federal Reserve Chair Jerome Powell’s speech for insights into possible rate cuts. Media earnings, including Walt Disney Co., are in focus. Bond yields remain stable, reflecting dovish messages from Fed officials. The S&P 500 and the Nasdaq Composite had their longest winning streak since November 2021. In premarket trading, the SPDR S&P 500 ETF Trust ticked up 0.04% and the Invesco QQQ ETF edged down 0.01%. Several companies including Rivian Automotive, Lucid Group, Akamai Technologies, eBay, GoPro, H&R Block, IAC Inc., and Upstart Holdings reported earnings.

Portfolio Pulse from Shanthi Rexaline

November 08, 2023 | 12:12 pm

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