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 $414,219 were sold by Baker Jeff on Mar 11 ’24. At $13.18 per share, Baker Jeff sold 31,425 shares. The insider’s holdings dropped to 52,415 shares worth approximately $0.46 million following the completion of this transaction.
Also, Gruner Kjell sold 19,935 shares, netting a total of over 255,367 in proceeds. Following the sale of shares at $12.81 each, the insider now holds 407,787 shares.
Before that, McDonough Claire had sold 2,946 shares from its account. In a trade valued at $47,725, the Chief Financial Officer traded Rivian Automotive Inc shares for $16.20 each. Upon closing the transaction, the insider’s holdings decreased to 2,946 shares, worth approximately $1.38 million.
As published in a research note from Needham on April 18, 2024, Rivian Automotive Inc [RIVN] has been retained to a Buy and the price target has been revised to $13. Analysts at UBS upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in mid April. As of March 25, 2024, Mizuho has decreased its “Buy” rating to a “Neutral” for RIVN. Earlier on March 15, 2024, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for RIVN stock which previously was a “a Neutral”.
Analyzing RIVN Stock Performance
During the last five days, there has been a drop of approximately -7.73%. Over the course of the year, Rivian Automotive Inc shares have dropped approximately -62.36%. Shares of the company reached a 52-week high of $21.94 on 01/02/24 and a 52-week low of $8.26 on 04/16/24. A 50-day SMA is recorded $11.79, while a 200-day SMA reached $18.26. Nevertheless, trading volume fell to 30.67 million shares from 51.53 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 8.45, which, if violated, would cause prices to drop to 8.06. In the upper region, resistance lies at 9.15. The next price resistance is at 9.46. RSI (Relative Strength Index) is 32.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.03, which suggests the price will decrease in the coming days. Percent R is at 80.14%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
