Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Rivian Automotive Inc. shares valued at $65,342 were sold by Baker Jeff on Aug 15. At $37.27 per share, Baker Jeff sold 1,753 shares. The insider’s holdings dropped to 79,666 shares worth approximately $2.66 million following the completion of this transaction.
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Also, FLATLEY JAY T purchased 40,000 shares, netting a total of over 1,172,400 in proceeds. Following the buying of shares at $29.31 each, the insider now holds 92,616 shares.
Before that, Behl Jiten had sold 1,608 shares from its account. In a trade valued at $41,535, the Chief Growth Officer traded Rivian Automotive Inc. shares for $25.83 each. Upon closing the transaction, the insider’s holdings decreased to 1,608 shares, worth approximately $0.86 million.
As published in their initiating research note from Needham on September 15, 2022, Rivian Automotive Inc. [RIVN] has been a Hold. Analysts at Canaccord Genuity started covering the stock with ‘”a Buy”‘ outlook in a report released in mid July. As of June 02, 2022, DA Davidson has initiated its “an Underperform” rating for RIVN. Earlier on May 12, 2022, Exane BNP Paribas upgraded its rating. Their new recommendation was “a Neutral” for RIVN stock which previously was a “an Underperform”.
Analyzing RIVN’s Price Performance
On Thursday, Rivian Automotive Inc. [NASDAQ: RIVN] plunged -5.04% to $33.33. The stock’s lowest price that day was $33.10, but it reached a high of $35.18 in the same session. During the last five days, there has been a drop of approximately -16.02%. Over the course of the year, Rivian Automotive Inc. shares have dropped approximately -67.86%. A 50-day SMA is recorded $34.86, while a 200-day SMA reached $48.06. Nevertheless, trading volume fell to 13.48 million shares from 17.51 million shares the previous day.
Support And Resistance Levels for Rivian Automotive Inc. (RIVN)
According to the 24-hour chart, there is a support level at 32.56, which, if violated, would cause prices to drop to 31.79. In the upper region, resistance lies at 34.64. The next price resistance is at 35.95. RSI (Relative Strength Index) is 41.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.82, which suggests the price will decrease in the coming days. Percent R is at 75.60%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Rivian Automotive Inc. subject to short interest?
Stocks of Rivian Automotive Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.28 million shares to 53.64 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 55.92 million shares. A decline of -4.25% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.13 of the overall float, the days-to-cover ratio (short ratio) decline to 3.13.
Which companies own the most shares of Rivian Automotive Inc. (RIVN)?
According to T. Rowe Price Associates, Inc. filings, the company currently owns 141,564,738 shares, which is about 15.59% of the total RIVN shares outstanding. The investor’s shares have plunged by -21,231,474 from its previous 13-F filing of 162796212.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $1,469,454,292. The Vanguard Group, Inc. acquire a 157.16% interest valued at $797.77 million while Fidelity Management & Research Co sold a -1,562,447 stake. A total of -432,382 shares of Rivian Automotive Inc. were sold by BlackRock Investment Management L during the quarter, and -11,960,853 were sold by Coatue Management LLC. In its current portfolio, Soros Fund Management LLC holds 17,835,511 shares valued at $583.4 million.
In terms of Rivian Automotive Inc. share price expectations, FactSet research, analysts set an average price target of $52.20 in the next 12 months, up nearly 42.45% from the previous closing price of $35.10. Analysts anticipate Rivian Automotive Inc. stock to reach $83.00 by 2022, with the lowest price target being $27.00. In spite of this, 19 analysts ranked Rivian Automotive Inc. stock as an Overweight at the end of 2022. On April 11, 2022, Exane BNP Paribas assigned a price target of “an Underperform” to the stock and initiated coverage with a $35.