Rivian Automotive Inc’s recently made public that its Chief Executive Officer Scaringe Robert J unloaded Company’s shares for reported $1.22 million on Jul 22 ’24. In the deal valued at $17.02 per share,71,429 shares were sold. As a result of this transaction, Scaringe Robert J now holds 909,691 shares worth roughly $14.76 million.
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Then, Scaringe Robert J sold 200,000 shares, generating $3,600,220 in total proceeds. Upon selling the shares at $18.00, the Chief Executive Officer now owns 909,691 shares.
Before that, Scaringe Robert J sold 71,429 shares. Rivian Automotive Inc shares valued at $1,069,649 were divested by the Chief Executive Officer at a price of $14.97 per share. As a result of the transaction, Scaringe Robert J now holds 909,691 shares, worth roughly $14.76 million.
Needham reiterated its Rivian Automotive Inc [RIVN] rating to a Buy in a research note published on June 28, 2024; the price target was $20. A number of analysts have revised their coverage, including Wedbush’s analysts, who remained covering the stock and in late June has reiterated a ‘”an Outperform”‘ rating for it. Cantor Fitzgerald also remained covering RIVN and reiterated its “an Overweight” recommendation on June 26, 2024. Guggenheim started covering the stock on June 25, 2024. It rated RIVN as “a Buy”.
Price Performance Review of RIVN
On Tuesday, Rivian Automotive Inc [NASDAQ:RIVN] saw its stock fall -0.49% to $16.22. Over the last five days, the stock has lost -7.31%. Rivian Automotive Inc shares have fallen nearly -30.86% since the year began. Nevertheless, the stocks have fallen -39.79% over the past one year. While a 52-week high of $27.78 was reached on 01/02/24, a 52-week low of $8.26 was recorded on 04/16/24. SMA at 50 days reached $13.41, while 200 days put it at $14.50. A total of 20.64 million shares were traded, compared to the trading of 18.31 million shares in the previous session.
Levels Of Support And Resistance For RIVN Stock
The 24-hour chart illustrates a support level at 16.01, which if violated will result in even more drops to 15.80. On the upside, there is a resistance level at 16.54. A further resistance level may holdings at 16.86. The Relative Strength Index (RSI) on the 14-day chart is 56.68, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.69, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.69%. Stochastics%K at 20.53% indicates the stock is a holding.
The most recent change occurred on April 18, 2024 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $13.
