Equities research analysts forecast that Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) will announce $125.95 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Rivian Automotive’s earnings, with the highest sales estimate coming in at $175.50 million and the lowest estimate coming in at $88.00 million. The business is expected to announce its next quarterly earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Rivian Automotive will report full year sales of $1.85 billion for the current financial year, with estimates ranging from $1.41 billion to $2.17 billion. For the next financial year, analysts expect that the firm will report sales of $6.13 billion, with estimates ranging from $4.19 billion to $7.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Rivian Automotive.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last announced its quarterly earnings results on Thursday, March 10th. The electric vehicle automaker reported -2.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of -1.97 by -0.46. The company had revenue of 54.00 million for the quarter, compared to analysts’ expectations of 60.72 million.
Several brokerages recently commented on RIVN. Robert W. Baird cut their price target on shares of Rivian Automotive from $100.00 to $84.00 in a research note on Friday, March 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $91.00 price target on shares of Rivian Automotive in a research note on Friday, March 11th. Wedbush cut their price target on shares of Rivian Automotive from $130.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, March 11th. Piper Sandler dropped their price objective on shares of Rivian Automotive from $148.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, March 11th. Finally, Royal Bank of Canada dropped their price objective on shares of Rivian Automotive from $116.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, March 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of 85.00.
NASDAQ:RIVN traded down 0.56 during midday trading on Tuesday, hitting 40.59. 328,885 shares of the company were exchanged, compared to its average volume of 15,328,046. The stock has a fifty day moving average of 50.26. Rivian Automotive has a fifty-two week low of 33.46 and a fifty-two week high of 179.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 14.14 and a quick ratio of 13.93.
Several institutional investors have recently modified their holdings of the company. Sargent Bickham Lagudis LLC acquired a new position in shares of Rivian Automotive during the fourth quarter worth about $25,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Rivian Automotive during the fourth quarter worth about $25,000. Baldwin Brothers LLC MA acquired a new position in shares of Rivian Automotive during the fourth quarter worth about $26,000. Retirement Group LLC acquired a new position in shares of Rivian Automotive during the fourth quarter worth about $26,000. Finally, Lumature Wealth Partners LLC purchased a new stake in Rivian Automotive during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 50.13% of the company’s stock.
Rivian Automotive Company Profile (Get Rating)
Rivian Automotive, Inc develops and manufactures electric adventure vehicles. It offers five-passenger pickup trucks and sports utility vehicles. The company provides electric SUVs and electric pickup vehicles. The company was founded in 2009 and is based in San Jose, California. It has additional facilities in Irvine, Carson, and Palo Alto, California; Normal, Illinois; Woking, United Kingdom; Plymouth, Michigan; Vancouver, Canada; and Wittman, Arizona.
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