Truist Securities maintained coverage of Rivian Automotive Inc – (NASDAQ:RIVN) with a Buy recommendation on May 9, 2023, according to Fintel.
Analyst Price Prediction Indicates 89.50% Upside
The average one-year price target for Rivian Automotive Inc – as of April 25, 2023 is $26.26. Forecasts range from a minimum of 14.14 to a maximum of 46.20. The average price target represents an increase of 89.50% from the most recent closing price reported, which was $13.86.
View our ranking of companies with the highest price target appreciation.
Rivian Automotive Inc.’s projected annual revenue is $5,692,000,000, representing an increase of 243.31%. The annual non-GAAP EPS forecast is -5.82.
What does Fund Sentiment mean?
1045 funds and institutions have reported holdings in Rivian Automotive Inc -. This represents a quarterly increase of 55 owners, or 5.56 percent. The average portfolio weight of all funds devoted to RIVN has decreased by 8.48% to 0.34%.
In the past three months, the total number of shares owned by institutions decreased by 3.52 percent, to 669.5 million shares. Class A Put/Call Ratios for RIVN/Rivian Automotive Inc.The RIVN put/call ratio is 0.72, which indicates a favorable outlook.
What actions do other shareholders take?
Amazon.com possesses 158,364,000 shares, or 16.86% of the company’s stock. No change since the previous quarter.
Price T. Rowe Associates owns 116,605,000 shares, which represents 12.41% of the company. Prior to this filing, the company reported possessing 140,632K shares, a decrease of 20.61 %. Over the past quarter, the company reduced its portfolio allocation to RIVN by 54.41 percent.
PRGFX – T. Rowe Price Growth Stock Fund owns 39,711K shares of the company, which corresponds to a 4.23 percent stake. In its previous filing, the company reported holding 46,319K shares, representing a 16.64% decrease. The company decreased its RIVN portfolio allocation by 49.42% over the previous quarter.
Capital Research Global Investors possesses 35,598K shares, which represents 3.79 % of the company’s stock. Prior to this filing, the company reported possessing 43,376K shares, a decrease of 21.85%. The company decreased its RIVN portfolio allocation by 57.72% over the previous quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares possesses 19,421,000 shares, or 2.07% of the company. In its previous filing, the company disclosed ownership of 18,960K shares, representing an increase of 2.37 percent. Over the past quarter, the company reduced its portfolio allocation to RIVN by 47.03 percent.
Background Info on Rivian Automotive
Rivian’s mission is to develop products and services that facilitate the transition to carbon-neutral energy and transportation on the planet. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories, which it sells directly to consumers and businesses.
Rivian complements its vehicles with a comprehensive array of proprietary, value-added services that span the vehicle’s entire lifecycle and strengthen its customer relationships.