Fintel reports that on August 11, 2023, Exane BNP Paribas upgraded their outlook for Rivian Automotive Inc – (NASDAQ:RIVN) from Neutral to Outperform.
Analyst Price Forecast Suggests 22.24% Upside
As of August 2, 2023, the average one-year price target for Rivian Automotive Inc – is 26.37. The forecasts range from a low of 14.14 to a high of $42.00. The average price target represents an increase of 22.24% from its latest reported closing price of 21.57.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rivian Automotive Inc – is 5,692MM, an increase of 90.94%. The projected annual non-GAAP EPS is -5.82.
What is the Fund Sentiment?
There are 1030 funds or institutions reporting positions in Rivian Automotive Inc -. This is a decrease of 16 owner(s) or 1.53% in the last quarter. Average portfolio weight of all funds dedicated to RIVN is 0.23%, a decrease of 27.46%. Total shares owned by institutions decreased in the last three months by 6.01% to 635,887K shares. The put/call ratio of RIVN is 0.74, indicating a bullish outlook.
What are Other Shareholders Doing?
Amazon Com holds 158,364K shares representing 16.86% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 76,776K shares representing 8.17% ownership of the company. In it’s prior filing, the firm reported owning 116,605K shares, representing a decrease of 51.88%. The firm decreased its portfolio allocation in RIVN by 48.53% over the last quarter.
PRGFX – T. Rowe Price Growth Stock Fund holds 28,728K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 39,711K shares, representing a decrease of 38.23%. The firm decreased its portfolio allocation in RIVN by 45.57% over the last quarter.
Capital Research Global Investors holds 23,715K shares representing 2.52% ownership of the company. In it’s prior filing, the firm reported owning 35,598K shares, representing a decrease of 50.11%. The firm decreased its portfolio allocation in RIVN by 47.16% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 21,225K shares representing 2.26% ownership of the company. In it’s prior filing, the firm reported owning 19,421K shares, representing an increase of 8.50%. The firm decreased its portfolio allocation in RIVN by 15.24% over the last quarter.
Rivian Automotive Background Information
(This description is provided by the company.)
Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships.
This article originally appeared on Fintel
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
