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The BEV battery electric vehicle market isn’t extinct or even dying. Still, several developments suggest that it has matured quicker than expected, demand is less than forecast, and the hybrid vehicle… As we head into 2024, the electric vehicle (EV) space remains one of the most closely watched by investors. All told it’s had a decent year, but one that’s far from its best. Shares of electric-vehicle maker Rivian are lower after the company announced strong fourth-quarter production data.

  1. The company expects competition in the EV market to intensify due to a greater regulatory push for alternative fuel vehicles and other factors.
  2. We also give no representations or warranty on the accuracy or completeness of the information provided on this page.
  3. Still, several developments suggest that it has matured quicker than expected, demand is less than forecast, and the hybrid vehicle…
  4. The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 21st 2024.

Rivian Automotive’s stock is owned by a number of retail and institutional investors. Insiders that own company stock include Claire Mcdonough, Jay T Flatley, Jeff Baker, Jiten Behl, Motor Co Ford, Robert J Scaringe and Rose M Marcario. (RIVN) raised $9.1 billion in an initial public offering (IPO) on Wednesday, November 10th 2021. The company issued 153,000,000 shares at $57.00-$62.00 per share.

Smart Options Trades to Capitalize on the Electric Vehicle Boom

Rivian Automotive posted a sequential fall in fourth-quarter deliveries on Tuesday, and missed market estimates, as tough competition and high interest rates affect demand for its electric vehicles. Two major electric vehicle makers were trending in opposite directions Tuesday morning amid volatility in the EV market, as news of Rivian’s lagging deliveries dragged share prices down, while Tesla b… The company designs, develops, manufactures, and sells electric adventure vehicles and accessories through direct sales to consumers and commercial markets.

Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 21st 2024. The Rivian R1S began production in 2022 and began deliveries later that year.

Key Data

The size of the IPO and the rapid rise in Rivian’s stock price reflects investors’ excitement about the EV market, especially for startups seeking to develop EVs that compete with traditional automakers. RIVN, -10.06% sank 3.5% in premarket trading Tuesday, after the California-based electric vehicle maker reported 2023 delivery data that came up short of expectations…. Tesla is off to its worst start to a year yet, and many other manufacturers’ shares are trading at record lows. Elon Musk’s electric vehicle maker lost more than $94 billion in market valuation in the… 22 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for Rivian Automotive in the last twelve months. There are currently 7 hold ratings and 15 buy ratings for the stock.

But while industry challenges have dampened appetite for Rivian’s stock, they haven’t stopped the company from enjoying massive growth. 22 analysts have issued 1 year price targets for Rivian Automotive’s stock. Their RIVN share price targets range from $15.00 to $44.00.

Partnerships are not a recommendation for you to invest with any one company. Over the last 12 months, Rivian’s shares have ranged in value from as little as $11.68 up to $28.06. A popular way to gauge a stock’s volatility is its “beta”. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. This year should be an exciting one for Rivian Automotive and its stakeholders.

Rivian Automotive Inc. Cl A

On average, they anticipate the company’s stock price to reach $27.24 in the next twelve months. This suggests a possible upside of 77.9% from the stock’s current price. View analysts price targets for RIVN or view top-rated stocks among Wall Street analysts.

Those quarterly losses were more than four times larger than the same quarter a year earlier. The company indicated that its operating expenses have increased over the last eight quarters as the development of its R1T, R1S, and EDV vehicle programs continues to advance. Rivian reported Tuesday it produced 17,541 vehicles at its Normal, Illinois factory and delivered 13,972 to customers in the fourth quarter, mixed results that left investors wary and sent shares down… In the third quarter, it lost $3.9 billion, $4.15 per share, on revenue of $3.2 billion. It ended the quarter with $7.9 billion in cash after reporting a negative cash flow of over $3.7 billion in the third quarter.

Where Will Rivian Stock Be in 5 Years?

Founded in 2009 and debuting on public markets in 2021, Rivian is an electric vehicle company focusing on the truck, SUV, and crossover segments. The company earned an initial valuation of over $100 billion, netting it roughly $12 billion in cash to fund its expansion. But despite the promising start, Rivian’s valuation has since fallen to just $19.5 billion due to https://bigbostrade.com/ operational delays and macroeconomic challenges. Rivian provided recent financial results in its IPO prospectus. Until the quarterly period ended Sept. 30, 2021, the company had not produced or delivered any vehicles and thus had not generated substantial revenue. It delivered its first 11 R1Ts in September 2021, having produced a total of 12 during the quarter.

Create a free account to gain access to news, analysis, and real-time alerts on the stocks you follow. Leasing accounts for only about 20% of new vehicles overall, but can account for nearly 80% of luxury vehicles, which is essentially the price range of Rivian’s larger R1S and R1T vehicles. agriculture stocks Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Finder.com is an independent comparison platform and
information service that aims to provide you with information to help you make better decisions.

Best Stocks to Buy: Fisker vs. Rivian vs. Lucid

With a price-to-sales (P/S) multiple of 6.42, Rivian’s stock trades for a sharp discount to pure-play EV alternative Tesla, which trades for 9.06 times sales. Rivian’s low valuation, spectacular growth rate, and pathway to profitability make it likely to reward investors over the next five years. Rivian estimates that its net loss for the recent quarterly period was between $1.2 billion and $1.3 billion.

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