A company insider recently sold 3,265 shares of Rivian Automotive Inc [RIVN]. Should You also Consider to Sale?

In a filing, Rivian Automotive Inc revealed its Chief Financial Officer McDonough Claire unloaded Company’s shares for reported $55766.0 on Nov 16. In the deal valued at $17.08 per share,3,265 shares were sold. As a result of this transaction, McDonough Claire now holds 173,030 shares worth roughly $2.71 million.

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Then, McDonough Claire sold 3,265 shares, generating $79,144 in total proceeds. Upon selling the shares at $24.24, the Chief Financial Officer now owns 173,030 shares.

Before that, McDonough Claire sold 3,625 shares. Rivian Automotive Inc shares valued at $49,699 were divested by the Chief Financial Officer at a price of $13.71 per share. As a result of the transaction, McDonough Claire now holds 72,304 shares, worth roughly $1.13 million.

Deutsche Bank downgraded its Rivian Automotive Inc [RIVN] rating to a Hold from a a Buy in a research note published on , January 17, 2024; the price target was decreased to $19 from $29.

Price Performance Review of RIVN

On Tuesday, Rivian Automotive Inc [NASDAQ:RIVN] saw its stock fall -2.85% to $15.66. Over the last five days, the stock has lost -2.37%. Rivian Automotive Inc shares have fallen nearly -33.25% since the year began. Nevertheless, the stocks have fallen -21.03% over the past one year. While a 52-week high of $28.06 was reached on 01/02/24, a 52-week low of $11.68 was recorded on 01/25/24. SMA at 50 days reached $18.81, while 200 days put it at $18.77. A total of 25.65 million shares were traded, compared to the trading of 25.76 million shares in the previous session.

Levels Of Support And Resistance For RIVN Stock

The 24-hour chart illustrates a support level at 15.44, which if violated will result in even more drops to 15.21. On the upside, there is a resistance level at 16.10. A further resistance level may holdings at 16.53. The Relative Strength Index (RSI) on the 14-day chart is 35.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.71%. Stochastics %K at 21.81% indicates the stock is a holding.

How much short interest is there in Rivian Automotive Inc?

A steep rise in short interest was recorded in Rivian Automotive Inc stocks on Jan 11, 2024, growing by 3.38 million shares to a total of 104.86 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 101.48 million shares. There was a rise of 3.22%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 18.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.11.

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