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 has announced a 50% increase in production compared to Q1 2023 and has added a dual-motor to the R1 lineup. The company has also increased its total production guidance for 2023 to 52,000.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 8:13 pm

Rivian Automotive reported Q2 adjusted EPS of $(1.08), beating the estimate of $(1.41) by 23.4%. The company also reported sales of $1.12B, surpassing the estimate of $978.88M by 14.52%. This represents a 33.33% increase in EPS and a 207.97% increase in sales compared to the same period last year.

Portfolio Pulse from bharat@benzinga.com

August 08, 2023 | 8:13 pm

Rivian Automotive reported Q2 earnings per share (EPS) of $(1.08), beating the analyst consensus estimate of $(1.41) by 23.4%. This is a 33.33% increase over losses from the same period last year. The company also reported quarterly sales of $1.12 billion, beating the analyst consensus estimate of $978.88 million by 14.42%. This is a 207.69% increase over sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:12 pm

Rivian has reaffirmed its commitment to deliver on its previously stated annual production guidance of 50,000 vehicles. The company believes it is on track to meet this target.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 8:10 pm

Rivian Automotive, Inc. has produced 13,992 vehicles at its manufacturing facility in Normal, Illinois and delivered 12,640 vehicles during the same period.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 8:10 pm

Rivian Automotive, Inc (NASDAQ:RIVN) is expected to report Q2 earnings after the market close, with analysts predicting an EPS of negative $1.41 on revenues of $978.88 million. Truist Securities analyst Jordan Levy maintained a Buy rating on Rivian and raised the price target from $28 to $30, while Cantor Fitzgerald analyst Andres Sheppard downgraded the stock from Overweight to Neutral and increased the price target from $27 to $29. Rivian's stock is currently trading in a bearish inside bar pattern but above the 200-day simple moving average (SMA).

Portfolio Pulse from Melanie Schaffer

August 08, 2023 | 7:03 pm

Benzinga's options activity scanner has identified unusual options activity in the Consumer Discretionary sector. The stocks involved are Tesla (TSLA), Goodyear Tire & Rubber (GT), WW International (WW), Ford (F), Target Hospitality (TH), NIO (NIO), Dutch Bros (BROS), Chewy (CHWY), Home Depot (HD), and Rivian (RIVN). The activity includes both bullish and bearish sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 5:35 pm

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 4:35 pm

Truist Securities analyst Jordan Levy has maintained a 'Buy' rating on Rivian Automotive (NASDAQ:RIVN) and raised the price target from $28 to $30.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 3:22 pm

US stocks are expected to pull back due to inflation anxieties. The earnings news flow is likely to drive the market, with oil's pullback and upcoming US inflation data keeping the mood cautious. Analysts from LPL Financial suggest a mild recession is likely within the next six to nine months. They recommend a neutral tactical allocation to equities, favoring developed international equities over emerging markets and large caps over small caps. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell. Several companies including Lucid Group, Paramount Global, Chegg, Beyond Meat, Eli Lilly, Fox Corp, Expeditors International of Washington, GlobalFoundries, Novavax, UPS, Warner Music Group, Akamai Technologies, Rivian Automotive, Twilio, Upstart Holdings, and Lyft are in focus due to their earnings reports.

Portfolio Pulse from Shanthi Rexaline

August 08, 2023 | 11:26 am

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