| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower by 1.5% to $8.50 during Monday’s session. The EV sector may be trading lower in sympathy with Tesla Inc after the company reduced vehicle prices in the United States, Germany and China.
Rivian, facing a slowdown in the industry, last week reportedly reduced its workforce by 1%. This latest cut, following a previous one in February, is expected to affect support and back-office staff, contrasting with the earlier impact on product teams and commercial EV projects.
The EV sector may also be lower after Tesla last week laid off around 10% of its workforce.
See Also: Tesla’s Horror Week Ends With Another Price Cut, Rivian’s Second Round Of Layoffs
Wall Street analysts view Rivian Automotive on the whole as a Neutral, given the history of coverage over the past three months. Joseph Spak from UBS in Rivian Automotive is the most bearish, expecting a 66.67% fall in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Rivian Automotive fell 47.63%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 98.34% over the past year.
A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.
RIVN has a 52-week high of $28.06 and a 52-week low of $8.26.
Posted In: RIVN
