Rivian Automotive Inc’s recently made public that its Chief Executive Officer Scaringe Robert J unloaded Company’s shares for reported $0.97 million on Sep 23 ’24. In the deal valued at $11.64 per share,83,333 shares were sold. As a result of this transaction, Scaringe Robert J now holds 886,526 shares worth roughly $9.26 million.
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Then, ROBERT J. SCARINGE bought 83,333 shares, generating $969,588 in total proceeds.
Before that, Scaringe Robert J sold 83,333 shares. Rivian Automotive Inc shares valued at $1,140,012 were divested by the Chief Executive Officer at a price of $13.68 per share. As a result of the transaction, Scaringe Robert J now holds 886,526 shares, worth roughly $9.26 million.
Morgan Stanley downgraded its Rivian Automotive Inc [RIVN] rating to an Equal-weight from a an Overweight in a research note published on September 25, 2024; the price target was decreased to $13 from $16. Needham maintained its rating on June 28, 2024. It rated RIVN as “a Buy”.
Price Performance Review of RIVN
On Friday, Rivian Automotive Inc [NASDAQ:RIVN] saw its stock fall -3.15% to $10.44. Over the last five days, the stock has lost -10.00%. Rivian Automotive Inc shares have fallen nearly -55.50% since the year began. Nevertheless, the stocks have fallen -55.93% over the past one year. While a 52-week high of $24.61 was reached on 01/02/24, a 52-week low of $8.26 was recorded on 04/16/24. SMA at 50 days reached $13.35, while 200 days put it at $13.44.
Levels Of Support And Resistance For RIVN Stock
The 24-hour chart illustrates a support level at 10.02, which if violated will result in even more drops to 9.60. On the upside, there is a resistance level at 10.66. A further resistance level may holdings at 10.89. The Relative Strength Index (RSI) on the 14-day chart is 32.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.95, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.92%. Stochastics %K at 13.13% indicates the stock is a buying.
How much short interest is there in Rivian Automotive Inc?
A steep rise in short interest was recorded in Rivian Automotive Inc stocks on 2024-09-13, dropping by -6.7 million shares to a total of 118.22 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 124.92 million shares. There was a decline of -5.67%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on June 26, 2024 when Wedbush resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $20.
