Rivian Automotive Inc’s recent filing unveils that its Chief Financial Officer McDonough Claire unloaded Company’s shares for reported $43560.0 on Aug 16 ’24. In the deal valued at $13.57 per share,3,210 shares were sold. As a result of this transaction, McDonough Claire now holds 392,662 shares worth roughly $5.69 million.
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Then, Scaringe Robert J sold 71,429 shares, generating $1,215,750 in total proceeds. Upon selling the shares at $17.02, the Chief Executive Officer now owns 909,691 shares.
Before that, Scaringe Robert J sold 200,000 shares. Rivian Automotive Inc shares valued at $3,600,220 were divested by the Chief Executive Officer at a price of $18.00 per share. As a result of the transaction, Scaringe Robert J now holds 909,691 shares, worth roughly $13.17 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 jump 0.84% to $14.48. Over the last five days, the stock has gained 9.70%. Rivian Automotive Inc shares have fallen nearly -38.28% since the year began. Nevertheless, the stocks have fallen -27.85% over the past one year. While a 52-week high of $24.87 was reached on 01/02/24, a 52-week low of $8.26 was recorded on 04/16/24. SMA at 50 days reached $14.64, while 200 days put it at $14.16.
Levels Of Support And Resistance For RIVN Stock
The 24-hour chart illustrates a support level at 14.10, which if violated will result in even more drops to 13.71. On the upside, there is a resistance level at 14.71. A further resistance level may holdings at 14.93. The Relative Strength Index (RSI) on the 14-day chart is 52.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 33.41%. Stochastics%K at 58.28% 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 2024-07-31, dropping by -13.46 million shares to a total of 119.32 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 132.79 million shares. There was a decline of -11.28%, which implies that there is a negative sentiment for the stock.
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.
