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

9.95

Mkt cap

10B

Volume

51M

High

10.24

P/E Ratio

-1.84

52-wk high

24.61

Low

9.81

Div yield

N/A

52-wk low

8.26

Rivian Automotive Inc (RIVN) posted better than expected Q2 results, with a narrower loss and increased production guidance. The company's stock has risen 80% over the past 90 days. Rivian made $1.12 billion in revenue, topping Refinitiv’s consensus estimate of $1 billion. The company delivered 12,640 EVs, a 59% increase compared to Q1. Rivian also raised its 2023 production outlook to 52,000 EVs, double its 2022 output. The company's CEO assured investors that liquidity is covered through 2025.

Portfolio Pulse from Upwallstreet

August 11, 2023 | 1:26 pm

Exane BNP Paribas analyst James Picariello has upgraded Rivian Automotive (NASDAQ:RIVN) from Neutral to Outperform and set a price target of $30.

Portfolio Pulse from richadhand@benzinga.com

August 11, 2023 | 1:19 pm

Wedbush Analyst Dan Ives views Rivian (NASDAQ:RIVN) as a core EV player over the next decade. Rivian's Q2 performance saw a 50% increase in vehicle deliveries from the previous quarter, surpassing expectations. The company is refining its manufacturing processes and introducing in-house components to cut production costs. Despite a recent 16% drop, Rivian's stock remains 25% up in 2023.

Portfolio Pulse from Benzinga Neuro

August 11, 2023 | 2:50 am

Benzinga's options activity scanner has identified unusual options activity in the Consumer Discretionary sector. The stocks involved are Farfetch (FTCH), General Motors (GM), Tesla (TSLA), Rivian (RIVN), Dick's Sporting Goods (DKS), Capri Holdings (CPRI), Carvana (CVNA), American Eagle Outfitters (AEO), BJ's Restaurants (BJRI), and Green Brick Partners (GRBK). The options activity ranges from bullish to bearish and neutral sentiments.

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 5:35 pm

DA Davidson analyst Michael Shlisky maintains a Neutral rating on Rivian Automotive (NASDAQ:RIVN) and raises the price target from $18 to $25.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 5:00 pm

Goldman Sachs analyst Mark Delaney has maintained a Neutral rating on Rivian Automotive (NASDAQ:RIVN) and raised the price target from $18 to $23.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 1:34 pm

Canaccord Genuity analyst George Gianarikas maintains a 'Buy' rating on Rivian Automotive (NASDAQ:RIVN) and raises the price target from $40 to $44.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 8:25 pm

Rivian Automotive's shares are trading lower following the release of the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 4:42 pm

Rivian Automotive Inc (NASDAQ:RIVN) reported Q2 earnings with revenue of $1.12 billion, beating the consensus estimate of $978.9 million. The company's operating expenses decreased from $1 billion YoY to $873 million. Rivian produced 13,992 vehicles in Q2, with 12,640 successful deliveries. Analysts from BofA, Mizuho, and Cantor Fitzgerald reiterated their ratings on the stock, with BofA and Mizuho raising their price targets.

Portfolio Pulse from AJ Fabino

August 09, 2023 | 4:13 pm

Deutsche Bank analyst Emmanuel Rosner has maintained a 'Buy' rating on Rivian Automotive (NASDAQ:RIVN) and raised the price target from $26 to $29.

Portfolio Pulse from jenniferd'souza@benzinga.com

August 09, 2023 | 4:12 pm

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