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 $9.39 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 $9.39 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 Tuesday, Rivian Automotive Inc [NASDAQ:RIVN] saw its stock jump 2.92% to $10.59. Over the last five days, the stock has gained 1.15%. Rivian Automotive Inc shares have fallen nearly -54.86% since the year began. Nevertheless, the stocks have fallen -40.20% 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 $11.60, while 200 days put it at $12.35.
Levels Of Support And Resistance For RIVN Stock
The 24-hour chart illustrates a support level at 10.30, which if violated will result in even more drops to 10.01. On the upside, there is a resistance level at 10.75. A further resistance level may holdings at 10.91. The Relative Strength Index (RSI) on the 14-day chart is 48.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.30%. Stochastics %K at 35.72% 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 2024-10-15, growing by 18.81 million shares to a total of 137.04 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 118.22 million shares. There was a rise of 13.73%, which implies that there is a positive 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.
