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

14.02

Mkt cap

15B

Volume

31M

High

14.41

P/E Ratio

-2.57

52-wk high

24.61

Low

13.75

Div yield

N/A

52-wk low

8.26

Rivian Automotive Inc (NASDAQ:RIVN) is discontinuing several customization options for its vehicles starting mid-September to expedite production and deliveries. The discontinued options include certain color combinations, the compass yellow exterior option, and the choice of Black Mountain and Ocean Coast all-vegan leather interiors. The 20" All-Terrain Bright wheels will also no longer be available. However, customers expecting deliveries this year can confirm their preference for these options before mid-September. The company expects to produce 52,000 total units in 2023.

Portfolio Pulse from Anan Ashraf

August 28, 2023 | 10:37 am

Tesla CEO Elon Musk has criticized the slow pace of legacy automakers in integrating advanced technologies into their vehicles. He suggested that it would take major car companies about three years to design in the cameras, liquid-cooled Tesla computer, and high-security internet gateway. Musk was responding to a user who opined that it would take Ford years to integrate autopilot into its vehicles even if Tesla handed over the entire Autopilot source code. Despite Musk's willingness to share Tesla's knowledge, Tesla is currently in a legal dispute with Rivian over alleged theft of trade secrets.

Portfolio Pulse from Anan Ashraf

August 28, 2023 | 6:36 am

The United Auto Workers (UAW) announced that 97% of its members from General Motors Corp. (GM), Ford Motor Co. (F), and Stellantis N.V. (STLA) have authorized a strike if a fair deal is not reached. A strike could disrupt the EV transformation of GM and Ford. The UAW is demanding the reinstatement of certain contract provisions given up in 2007, which could impact the profitability of automakers.

Portfolio Pulse from Shanthi Rexaline

August 26, 2023 | 10:05 pm

Electric vehicle (EV) stocks had a mixed performance in the week ended Aug. 25. Tesla's stock rose by 10.72% following Elon Musk's Cybertruck teasers and the upcoming launch of the refreshed Model 3 vehicle. Lucid Group's price cuts have been well received by customers and the market, according to CEO Peter Rawlinson. Polestar Automotive achieved a production milestone of 150,000 vehicles and announced a partnership with Mobileye Global for autonomous driving technology. Ford is offering incentives and lease options for its Mach-E crossover SUV EV in the U.S. Faraday Future effected a 1-for-80 reverse stock split.

Portfolio Pulse from Shanthi Rexaline

August 26, 2023 | 2:56 pm

Benzinga's options activity scanner has identified significant trading activity in the options of 10 consumer discretionary stocks. The stocks include Tesla (TSLA), V.F. Corp (VFC), XPeng (XPEV), Sleep Number (SNBR), Floor & Decor Holdings (FND), Ford (F), Rivian (RIVN), Booking Holdings (BKNG), Wayfair (W), and Cava Group (CAVA). The options activity ranges from neutral to bullish and bearish sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

August 25, 2023 | 5:35 pm

Needham analyst Chris Pierce reiterated a Buy rating on Rivian Automotive Inc (RIVN) with a price target of $31.00. The analyst believes RIVN is successfully addressing key questions in the EV market regarding vehicle demand, manufacturing scale, and cost leverage. Data from Cargurus supports a strong used market for RIVN, and the company has a significant reservation backlog through 2024. Despite the positive outlook, RIVN shares are trading lower by 2.6% at $19.79.

Portfolio Pulse from Shivani Kumaresan

August 24, 2023 | 5:51 pm

Benzinga's options activity scanner has identified unusual trading activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Carvana (CVNA), Nike (NKE), Rivian (RIVN), Burlington Stores (BURL), Booking Holdings (BKNG), Lululemon Athletica (LULU), RH (RH), Wayfair (W), and Marriott International (MAR). The activity includes both bullish and bearish sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 5:35 pm

Over the past 3 months, 21 analysts have published their opinion on Rivian Automotive (NASDAQ:RIVN) stock. The average price target for Rivian Automotive has increased by 27.96% from the previous average price target of $22.07 to $28.24. The majority of the ratings are bullish.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:00 pm

Needham analyst Chris Pierce has reiterated a 'Buy' rating on Rivian Automotive (NASDAQ:RIVN) and maintained a price target of $31.

Portfolio Pulse from richadhand@benzinga.com

August 24, 2023 | 9:32 am

Tesla Inc's revenue has seen a significant surge over the years, with a social media user highlighting the company's revenue milestones. The company's growth has been driven by its expanding lineup of electric vehicles, increasing demand for sustainable transportation, and advancements in autonomous driving technology. Tesla's stock has also seen a significant increase since its initial public offering in June 2010. The starting price of Tesla’s rival Rivian Automotive Inc‘s R1T pickup is currently $73,000.

Portfolio Pulse from Anan Ashraf

August 23, 2023 | 12:51 pm

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