The vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles. In regard to its capabilities, the truck can go from 0 to 60 in 3 seconds, tow up to 11,000 pounds, and wade through 3 feet of water with no problems. The company designs, develops, manufactures, and sells electric adventure vehicles and accessories through direct sales to consumers and commercial markets. The company vehicles are designed for sustainability and long lifespans across all components with repairability and reusability key to the end result.
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- Rivian has gone through more than $4 billion of its cash hoard in the last year — and that’s with no efforts underway to boost production volume in 2024.
- The company has instead been retooling some production capacity as it moves toward building its next-generation R2 and R3 models.
- The company, which is not yet profitable, reported a net loss of $1.52 billion for the three-month period that ended Dec. 31, compared with $1.72 billion during the same period a year earlier.
- These include the R2 SUV starting at $45,000 and two crossovers in the R3 and the R3X.
- Rivian Automotive, Inc. is an OEM EV manufacturer focused on pickup trucks and SUVs.
Top institutional investors of Rivian Automotive include Baillie Gifford & Co. (3.32%), Bank of New York Mellon Corp (0.30%), Portman Square Capital LLP and Sumitomo Mitsui Trust Holdings Inc. (0.16%). Insiders that own company stock include Motor Co Ford, Robert J Scaringe, Kjell Gruner, Claire Mcdonough, Jay T Flatley, Jeff Baker, Jiten Behl and Rose M Marcario. Providing investment advice to tens of thousands of investors for more than three decades, he has earned a reputation as a savvy stock picker and unrivaled portfolio manager. For an investment in Rivian stock now to pay off will require the R2 and R3 models to attract broad followings among customers.
Once the darling of the EV world, the electric truck-maker Rivian is reeling
Investors can only weigh those factors and decide what they see as the best course. But the stock has gained momentum in recent months as the buy case has begun to get clearer, and the stock has gained nearly 90% from its 2024 cup and handle pattern target low. Here are three good reasons why I think Rivian still looks like a buy now, and one big hill the EV start-up will need to climb. Investors will next hear from Rivian when it delivers its second-quarter report on Aug. 6.
Class Action Filed Against Rivian Automotive, Inc. (RIVN) Seeking Recovery for Investors – Contact Levi & Korsinsky
If the market front-ran its assumption that Rivian will post amazing second-quarter results, this could be a setup for a major letdown. Any recent share-price gains could be lost soon, as there’s a key event coming up soon. As we warned you and InvestorPlace contributor Rich Duprey also warned you, Rivian Automotive will release its second-quarter 2024 financial results on Aug. 6. For most stocks, one can usually find arguments in favor of buying or selling.
RIVN price to book (PB)
Electric vehicle stocks are not doing well in 2024, with most of them being down by double digits. Tesla (TSLA) has dropped by 11% this year while other American and Chinese names like Lucid, Faraday … If Rivian Automotive’s second-quarter results and forward guidance aren’t stellar, Rivian stock is vulnerable to a pullback. So, make any defensive portfolio adjustments that you deem necessary while the escape hatch is still open.
Additionally, its CEO, RJ Scaringe, also announced a strategic pullback on constructing its Georgia plant, potentially resulting in $2.25 billion in savings. Its next step will be to use its current capital position and Volkswagen’s investment to launch what it hopes will be more-mainstream models. The R2 SUV is expected to begin production next year, with deliveries starting in early 2026.
Analysts like Rivian Automotive more than other « auto/tires/trucks » companies. The consensus rating for Rivian Automotive is Moderate Buy while the average consensus rating for « auto/tires/trucks » companies is Hold. According to the 25 analysts’ twelve-month price targets for Rivian Automotive, the average price target is $19.79.
Rivian Automotive will release its quarterly results on Aug. 6, after a substantial stock rally already took place. Let’s take a big-picture perspective, though, as the stock is still down year-to-date and over the past 12 https://www.1investing.in/ months. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. Sign-up to receive the latest news and ratings for RIVN and its competitors with MarketBeat’s FREE daily newsletter.
The question is whether the company has what it needs to get to the point where the R2 can bring in meaningful revenue. 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, top-rated podcasts, and non-profit The Motley Fool Foundation. Rivian said it expects to produce 57,000 vehicles this year, which the company said was in line with 2023 figures, though it disappointed Wall Street analysts who expected that number to be higher.
The consensus among Wall Street analysts is that investors should « moderate buy » RIVN shares. The company offers five-passenger pickup trucks and sports utility 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.
“Rivian’s fairly bleak 2024 guidance, including no volume growth and continued steep losses, in our view, showcases the company’s deep challenges ahead,” Rosner wrote. Deutsche Bank analyst Emmanuel Rosner said in a note to clients that he now expects deliveries to be “flattish” in 2024 at 50,000 vehicles, as opposed to his previous expectation of 65,000 vehicles. That hesitation is showing up in Rivian’s production and delivery expectations for 2024.
A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University. Rivian looks much better in shape than last year and is on the back of multiple positive developments. In some ways, this has inspired investor confidence again, pushing the stock back into the limelight. On top of this, it has numerous growth catalysts that could transform its trajectory over the next few years.