Rivian Automotive RIVN Stock Price, News & Analysis

That includes engineering specifications such as easily removable batteries and batteries that can be easily recycled or repurposed into stationary power packs when their EV lifespan is spent. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches https://www.topforexnews.org/ millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. Shares of electric vehicle makers Rivian and Lucid fell Thursday after the companies reported stagnant production in their fourth quarter earnings.

The company issued 153,000,000 shares at a price of $57.00-$62.00 per share. The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024. With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio. The Rivian R1S began production in 2022 and began deliveries later that year. The R1S comes with a 260 to 320-mile range and can also wade through 3 feet of water.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Rivian Automotive, Inc. – RIVN

The R1S also boasts the ability to rock crawl up a 100% incline or 45-degree slope. NBC’s Phil LeBeau and Rivian CEO RJ Scaringe join ‘Squawk Box’ to discuss the company’s quarterly earnings results, 2024 production guide which widely missed Wall Street estimates, slowdown of the EV … Kevin Green discusses this as Rivian’s production estimates were not up to the street’s expectations. Apple (AAPL) scraps its plans for an electric vehicle.

Truist analyst Jordan Levy downgraded shares of electric-vehicle maker Rivian to Hold from Buy, and cut the price target to $11 from $26. The R1T comes with 8 different drive modes geared for offroading, city adventures, and everything in between. Among the choices is the “Drift” mode which proactively distributes power to offset traction control and increase the “fun” factor. The https://www.forexbox.info/ vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles. In regard to its capabilities, the truck can go from 0 to 60 in 3 seconds, tow up to 11,000 pounds, and wade through 3 feet of water with no problems. The company offers five-passenger pickup trucks and sports utility vehicles under the R1T and R1S labels.

The R1T is a highly configurable pickup while the R1S is an off-road capable SUV. The R1T is hailed as the world’s first EV adventure vehicle, it began production in early 2021 and the first deliveries were made later that same year. By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly. In a letter to customers, he wrote, “Earlier this week, we announced pricing increases that broke the trust we have worked to build with https://www.currency-trading.org/ you. … [W]e wrongly decided to make these changes apply to all future deliveries, including pre-existing configured preorders.” Rivian Automotive’s shares fell the most on record after the electric-vehicle maker issued a disappointing production forecast and announced another round of job cuts. According to 23 analysts, the average rating for RIVN stock is “Buy.” The 12-month stock price forecast is $19.09, which is an increase of 73.07% from the latest price.

1. NBC’s Phil LeBeau and Rivian CEO RJ Scaringe join ‘Squawk Box’ to discuss the company’s quarterly earnings results, 2024 production guide which widely missed Wall Street estimates, slowdown of the EV …
2. Truist analyst Jordan Levy downgraded shares of electric-vehicle maker Rivian to Hold from Buy, and cut the price target to $11 from $26.
3. View analysts price targets for RIVN or view top-rated stocks among Wall Street analysts.
4. The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.
5. There are currently 2 sell ratings, 9 hold ratings and 12 buy ratings for the stock.

In 2023, RIVN’s revenue was $4.43 billion, an increase of 167.43% compared to the previous year’s $1.66 billion. Losses were -$5.43 billion, -19.55% less than in 2022. Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

The latest results from carmakers showcase the advantages of having an old-fashioned combustion-engine business to fund—and hedge—the transition to electric vehicles. Rivian is also building the Rivian Adventure Network, a series of charging stations along popular routes and out-of-the-way destinations. The charging stations can add up to 120 miles of range to a battery pack in just 20 minutes.

Sales & Book Value

UBS analyst Joe Spak downgraded shares of Rivian to Sell from Buy. The analyst noted that imminent capital needs are putting a ceiling on the shares, and concrete evidence of strength in R2 ordered is needed to bring … Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. One day after electric truck company Rivian Automotive (RIVN 0.92%) voluntarily blew up its stock price by announcing it would raise the price of its R1T pickup truck by 17%, and its R1S SUV by 20%, Rivian stock is tumbling once again on Thursday. Rivian Automotive and Lucid Group tumbled in premarket trading on Thursday after their earnings reports pointed to the impact of slowing electric-vehicle demand on their costly ramp-up plans. (RIVN) raised $9.1 billion in an initial public offering on Wednesday, November 10th 2021.

Since then, RIVN stock has decreased by 53.0% and is now trading at $11.03. New Rank-Based ScoringMarketRank™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company’s weighted average against that of other companies. Rivian CEO RJ Scaringe said the company made “great progress” in 2023 even with economic headwinds. The automaker said it remains focused on cost efficiency. Rivian (RIVN) falls after earnings and announces a 10% reduction in workforce. Its adjusted EPS came in at -$1.36 versus an estimated -$1.39 and revenue came in at $1.32B versus an estimated $1.28B.

Rivian (RIVN) Announces Reduction In Workforce & Falls After Earnings

Ross Gerber discusses this, as well as if Rivian (RIVN) has a path to profitability. Electric vehicle company Rivian Automotive RIVN recently reported fourth-quarter financial results. The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies. You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Rivian Automotive’s stock was trading at $23.46 at the beginning of the year.

23 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Rivian Automotive in the last year. There are currently 2 sell ratings, 9 hold ratings and 12 buy ratings for the stock. The consensus among Wall Street analysts is that investors should “hold” RIVN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in RIVN, but not buy additional shares or sell existing shares. 23 equities research analysts have issued 1-year target prices for Rivian Automotive’s shares. Their RIVN share price targets range from $8.00 to $44.00.

The company is planning to launch at least 2500 stations nationwide. Rivian Automotive, Inc. is an OEM EV manufacturer focused on pickup trucks and SUVs. The company was founded in 2009 and is based in San Jose, California. Rivian is among the greenest of the EV makers choosing to achieve carbon neutrality well ahead of the Paris Climate Accord timeline.

On average, they predict the company’s share price to reach $20.73 in the next twelve months. This suggests a possible upside of 87.9% from the stock’s current price. View analysts price targets for RIVN or view top-rated stocks among Wall Street analysts. Rivian will now have to eat those higher costs on the more than 70,000 preorders it racked up in past months. The company designs, develops, manufactures, and sells electric adventure vehicles and accessories through direct sales to consumers and commercial markets. The company vehicles are designed for sustainability and long lifespans across all components with repairability and reusability key to the end result.