The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rivian Automotive Inc shares valued at $991,292 were sold by Scaringe Robert J on Dec 23 ’24. At $13.88 per share, Scaringe Robert J sold 71,429 shares. The insider’s holdings dropped to 863,361 shares worth approximately $12.12 million following the completion of this transaction.
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Also, ROBERT J. SCARINGE purchased 71,429 shares, netting a total of over 991,292 in proceeds.
Before that, McDonough Claire had sold 18,501 shares from its account. In a trade valued at $277,515, the Chief Financial Officer traded Rivian Automotive Inc shares for $15.00 each. Upon closing the transaction, the insider’s holdings decreased to 18,501 shares, worth approximately $4.94 million.
As published in a research note from Robert W. Baird on December 18, 2024, Rivian Automotive Inc [RIVN] has been rated down from an Outperform to a Neutral and the price target has been revised to $16 from $18. Analysts at The Benchmark Company started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of November 08, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for RIVN. Earlier on September 25, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for RIVN stock which previously was a “an Overweight”.
Analyzing RIVN Stock Performance
During the last five days, there has been a surge of approximately 7.50%. Over the course of the year, Rivian Automotive Inc shares have dropped approximately -40.15%. 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 $11.62, while a 200-day SMA reached $12.03. Nevertheless, trading volume fell to 18.88 million shares from 15.9 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 13.70, which, if violated, would cause prices to drop to 13.37. In the upper region, resistance lies at 14.36. The next price resistance is at 14.69. RSI (Relative Strength Index) is 59.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 48.49%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
