Wall Street brokerages predict that Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) will report sales of $125.95 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Rivian Automotive’s earnings. The highest sales estimate is $175.50 million and the lowest is $88.00 million. The business is expected to report its next earnings report 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 fiscal year, with estimates ranging from $1.41 billion to $2.17 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $6.13 billion, with estimates ranging from $4.19 billion to $7.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Rivian Automotive.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last released its earnings results on Thursday, March 10th. The electric vehicle automaker reported -2.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of -1.97 by -0.46. The business had revenue of 54.00 million during the quarter, compared to analysts’ expectations of 60.72 million.
A number of equities analysts have issued reports on RIVN shares. Barclays lowered their target price on Rivian Automotive from $115.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, March 8th. BNP Paribas assumed coverage on Rivian Automotive in a report on Monday, April 11th. They issued an “underperform” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Rivian Automotive from $104.00 to $84.00 in a report on Wednesday, January 26th. Piper Sandler decreased their price objective on Rivian Automotive from $148.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, March 11th. Finally, Redburn Partners assumed coverage on Rivian Automotive in a report on Tuesday, January 11th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Rivian Automotive presently has an average rating of “Buy” and a consensus price target of 85.00.
RIVN stock traded down 0.56 during trading hours on Tuesday, reaching 40.59. 328,885 shares of the stock were exchanged, compared to its average volume of 15,328,046. The firm’s 50-day simple moving average is 50.26. The company has a current ratio of 14.14, a quick ratio of 13.93 and a debt-to-equity ratio of 0.06. Rivian Automotive has a 12 month low of 33.46 and a 12 month high of 179.47.
A number of large investors have recently modified their holdings of RIVN. Sargent Bickham Lagudis LLC acquired a new stake in Rivian Automotive during the fourth quarter worth approximately $25,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in Rivian Automotive during the fourth quarter worth approximately $25,000. Baldwin Brothers LLC MA acquired a new stake in Rivian Automotive during the fourth quarter worth approximately $26,000. Retirement Group LLC acquired a new stake in Rivian Automotive during the fourth quarter worth approximately $26,000. Finally, Lumature Wealth Partners LLC acquired a new stake in Rivian Automotive during the fourth quarter worth approximately $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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