RIVN Rivian Automotive Cl A Stock Price

That is certainly encouraging news — but on November 25, the company’s CEO, Robert Scaringe, sold approximately $973,000 in RIVN shares, as revealed by an SEC Form 4 filing made public on November 27. Shares of Rivian, an EV startup based in California that has been looking to challenge Tesla — whose CEO Elon Musk has been front and center in boosting President-elect Donald Trump — climbed 15% after news of the loan was announced early Tuesday. A recent move higher has gone into overdrive over the past two days.

That’s because of yesterday’s announcement that many investors see as a pivotal moment for Rivian’s long-term success. The company offers five-passenger pickup trucks and sports utility spectre.ai forex broker review vehicles under the R1T and R1S labels. The R1T is a highly configurable pickup while the R1S is an off-road capable SUV. The R1T is hailed as the world’s first EV adventure vehicle, it began production in early 2021 and the first deliveries were made later that same year. By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly.

Rivian Receives $6.6B Loan Approval to Build EV Production Facility

A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. According to S&P Global Market Intelligence, the average analyst target price for RIVN stock is $14.96, representing implied upside of more than 28% to current levels. Please bear with us as we address this and restore your personalized lists. However, that second fact isn’t quite enough to quiet bearish speculation — a 10b5-1 plan can include ‘trigger prices’ — allowing insiders to execute sales once favorable conditions are met. Scaringe still holds 863,361 Rivian shares directly, as well as 2,632,766 in a trust. The CEO’s transaction encompassed 83,334 Rivian shares, sold at an average price of $11.25 per unit — worth a total of approximately $937,507.

• The Barchart Technical Opinion rating is a 24% Sell with a Weakest short term outlook on maintaining the current direction.
• Top institutional investors of Rivian Automotive include Baillie Gifford & Co. (4.99%), Geode Capital Management LLC (1.29%), Wolverine Asset Management LLC and Jane Street Group LLC.
• The CEO’s transaction encompassed 83,334 Rivian shares, sold at an average price of $11.25 per unit — worth a total of approximately $937,507.
• The company has reduced capital spending plans and made cost-cutting efforts to help achieve that goal.
• Rivian stock price jumped sharply on Wednesday after the company unveiled details of its $5.8 billion joint venture with Volkswagen.

Top Analysts: RIVN

Sign-up to receive the latest news and ratings for Rivian Automotive and its competitors with MarketBeat’s FREE daily newsletter. Rivian is also building the Rivian Adventure Network, a series of charging stations along popular routes and out-of-the-way destinations. The charging stations can add up to 120 miles of range to a battery pack in just 20 minutes. The company is planning to launch at least 2500 stations nationwide. The R1T comes with 8 different drive modes geared for offroading, city adventures, and everything in between.

“Although we still remain confident in the long-term Rivian vision, it will take some serious strides for the company to regain trust in the short-term vision in the eyes of the Street,” wrote Wedbush analyst Daniel Ives in a November 8 note. Financial services firm Wedbush is one of the more bullish outfits on RIVN stock with an Outperform rating (equivalent to a Buy) and $20 price target. Over the previous 90 days, Rivian Automotive’s stock had 2 downgrades by analysts. Enter your email address below to receive the latest news and analysts’ ratings for Rivian Automotive and its competitors with MarketBeat’s FREE daily newsletter. Enter your email address to receive the latest news and analysts’ ratings for Rivian Automotive and its competitors. Rivian Automotive scored higher than 66% of companies evaluated by MarketBeat, and ranked 39th out of 93 stocks in the auto/tires/trucks sector.

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Rivian’s business has been progressing reasonably well, even in the face of supply chain issues and lower consumer demand for electric vehicles (EVs) than some expected. In its third-quarter report earlier this month, Rivian management reiterated its expectations to generate positive gross margin in the current quarter. 23 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for Rivian Automotive in the last year. There is currently 1 sell rating, 12 hold ratings and 10 buy ratings for the stock.

Secondly, the trades were made in accordance with a 10b5-1 plan adopted back on March 8, 2024 — in other words, the trades were prescheduled. This plan allows Scaringe to sell up to 4,000,000 Rivian shares by June 9, 2025. Musk this week blasted California’s Democratic governor, Gavin Newsom, for his “insane” plan to offer state residents who buy electric vehicles rebates — though the benefit would not be extended to those who purchase Teslas. According to the research reports of 23 Wall Street equities research analysts, the average twelve-month stock price forecast for Rivian Automotive is $15.73, with a high forecast of $28.00 and a low forecast of $11.00. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, personal finance education, top-rated podcasts, and non-profit The Motley Fool Foundation.

In tandem with this, Scaringe also exercised stock options, which allowed him to purchase the same amount of shares at a price of $2.6282 per unit — or $219,018 on the whole. The Department of Energy announced on Tuesday that it was extending a $6.6 billion loan to Rivian for the construction of a $5 billion electric car factory in Georgia that the company initially started but then put on hold due to financial constraints. If finalized, the loan will be used to construct Rivian’s next facility in Stanton Springs North, Georgia. This will allow the automaker to expand its domestic production and help fund its production of its midsize vehicles, Rivian said. According to analysts, Rivian Automotive’s stock has a predicted upside of 28.70% based on their 12-month stock forecasts. Rivian Automotive, Inc. is an OEM EV manufacturer focused on pickup trucks and SUVs.

Select to analyze similar companies using key performance metrics; select up to 4 stocks. This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC). Musk has been a fierce critic of President Joe Biden and the Democrats — particularly over issues such as government regulation of business, taxation, coronavirus lockdown measures and hot-button culture war controversies including transgender care rfp software development and free speech. Vivek Ramaswamy, the former Republican presidential candidate who has been named by Trump as co-head alongside Musk of an advisory counsel dubbed the “Department of Government Efficiency,” slammed the Biden administration for the move on Tuesday.

While Rivian’s corporate headquarters are based in California, the company’s vehicles are produced in a plant that was once owned by Mitsubishi in Normal, Ill. “This loan will help create thousands of new American jobs and further strengthen US leadership in EV manufacturing and technology,” RJ Scaringe, Rivian founder and CEO, wrote in a press release Monday. The facility is expected to employ 7,500 people who would begin manufacturing electric SUVs and trucks beginning in 2028. Shares of a struggling electric-car maker that competes against Tesla are Best swing trading strategies surging this week after the lame-duck Biden administration loaned the company billions of dollars.