It has also provided Rivian with a crucial windfall, as it needs a lot of money to grow — and survive — in the notoriously cash-hungry automotive business. Rivian lost $994 million in the first six months of 2021 alone and has said in regulatory filings that it expects to spend another $8 billion by the end of 2023. 24 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for Rivian Automotive in the last twelve months. There are currently 2 sell ratings, 8 hold ratings and 14 buy ratings for the stock.

  1. Rivian Automotive’s stock was trading at $23.46 at the beginning of the year.
  2. Come along for a virtual tour of our state-of-the-art manufacturing facility in Normal, Illinois.
  3. The R1T and R1S, as they’re respectively called, made their debut at the 2018 LA Auto Show.

Rivian is among the greenest of the EV makers choosing to achieve carbon neutrality well ahead of the Paris Climate Accord timeline. Come along for a virtual tour of our state-of-the-art manufacturing facility in Normal, Illinois. Watch as Rivian founder and CEO staking app support adds to 700% weekly gains for new cryptocurrency top 100 entrant RJ Scaringe walks you through each shop to explain how we’re making progress in producing electric vehicles at scale. These two options will have ranges of 270 miles and 315 miles, respectively, with battery pack capacities of 106 kilowatt-hours and 121 kWh.

That gave Rivian an overall valuation of nearly $80 billion and helped it net $12 billion in fresh cash, despite the fact that it only just recently started to make and ship its first electric pickup trucks. Now Rivian’s losses and high cash burn are a concern, but the company is well-capitalized, with net cash standing at over $15 billion as of the most recent quarter. In fact, Rivian’s market cap currently stands at a little over $29 billion, implying that the market is currently valuing the company’s core business at just about $14 billion. Based on a 2022 consensus revenue estimate of about $1.85 billion, Rivian’s core business is valued at just about 7.5x sales, which is reasonable for a fast-growing company that offers a compelling product. Either way, the splashy debut is sure to draw a lot of attention to the startup and its electric vehicles.

Stock brokers

It’s the sixth-largest IPO ever on a US stock exchange, according to Bloomberg, and it’s hard to imagine the company picking a better time to debut. Tesla has generated an incredible amount of interest in electric vehicles and is now one of the most highly valued companies in the world. Electric vehicle startup Rivian is now a publicly traded company after executing one of the biggest initial public offerings in history. Rivian shares started trading on the Nasdaq stock exchange Wednesday at around $78 per share.

The Irvine, California-based company announced Thursday that it has introduced two new entry-level battery options, namely Standard and Standard+, for its existing product line-up, namely the R1T and R1S. Create a free account to gain access to news, analysis, and real-time alerts on the stocks you follow. Rivian is due to announce its quarterly results on Feb. 21, and additionally, excitement is building around its second-gen vehicle, code-named R2. On Thursday, Rivian climbed about 6.2% to $16.11, and the upside was accompanied by heavy volume. About 57.77 million shares exchanged hands as opposed to the average three-month volume of 34.09 million. Rivian has never declared or paid any cash dividends on our capital stock, and does not anticipate declaring or paying any dividends in the foreseeable future.

But he nixed that plan along the way and shifted the company toward developing an electric pickup truck and an SUV. The R1T and R1S, as they’re respectively called, made their debut at the 2018 LA Auto Show. The R1T comes with 8 different drive modes geared for offroading, city adventures, and everything in between. Among the choices is the “Drift” mode which proactively distributes power to offset traction control and increase the “fun” factor. The vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles.

A scorching debut in an already hot stock market

The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024. Click the link below and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment. The Rivian R1S began production in 2022 and began deliveries later that year. The R1S comes with a 260 to 320-mile range and can also wade through 3 feet of water.

Rivian Automotive (RIVN) Stock Price

It’s even searching for a location to build a second factory in addition to the one it operates in Normal, Illinois. 24 equities research analysts have issued 1-year price targets for Rivian Automotive’s stock. On average, they predict the company’s stock price to reach $20.78 in the next year. This suggests a possible upside of 92.4% from the stock’s current price. View analysts price targets for RIVN or view top-rated stocks among Wall Street analysts.

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Rivian Automotive (RIVN) raised $9.1 billion in an IPO on Wednesday, November 10th 2021. Rivian Automotive’s stock was trading at $23.46 at the beginning of the year. Since then, RIVN stock has decreased by 54.0% and is now trading at $10.80. Sign-up to receive the latest news and ratings for Rivian Automotive and its competitors with MarketBeat’s FREE daily newsletter. Rivian’s independent registered public accounting firm is KPMG LLP.

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. That includes engineering specifications such as easily removable batteries and batteries that can be easily recycled or repurposed into stationary power packs when their EV lifespan is spent. Rivian Automotive, Inc. is an OEM EV manufacturer focused on pickup trucks and SUVs. The company was founded in 2009 and is based in San Jose, California.

Rivian is based in Southern California with additional center of gravity offices in Northern California, Michigan, Arizona, Vancouver, the Netherlands and the United Kingdom. Please log in to your account or sign up in order to add this asset to your watchlist.

RIVN Rivian Automotive, Inc.Stock Price & Overview

The consensus among Wall Street research analysts is that investors should “moderate buy” RIVN shares. The startup wants to make as many as 1 million vehicles per year by 2030 and says it will have all three different vehicles in production by the end of this year. It plans to sell non-delivery versions of its van to other customers within the next two years.