Rivian Automotive RIVN Stock Forecast and Price Target 2024

That is certainly encouraging news — but on python math libraries 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.

NASDAQ: RIVN

The consensus among Wall Street equities research analysts is that investors should “hold” RIVN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in RIVN, but not buy additional shares or sell existing shares. However, yesterday’s announcement of a $6.6 billion conditional loan from the DOE to help fund that second facility’s construction has investors seeing a path toward another phase of growth for Rivian.

• Rivian (RIVN) wins preliminary approval for a $6.6 billion federal loan from the Department of Energy (DOE) that would go into finishing the build-out of an EV factory in Georgia.
• 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.
• The R1T is a highly configurable pickup while the R1S is an off-road capable SUV.

RIVN Forecast – Frequently Asked Questions

While Rivian’s corporate headquarters review mba asap 10 minutes to: understanding corporate finance 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 surging this week after the lame-duck Biden administration loaned the company billions of dollars.

RIVN Stock News Headlines

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 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 difference between data and insights same year. By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly.

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The company was founded in 2009 and is based in San Jose, California. Rivian is among the greenest of the EV makers choosing to achieve carbon neutrality well ahead of the Paris Climate Accord timeline. Rivian Automotive faces short-term production issues and potential loss of EV tax credits but remains a strong long-term investment with significant cash reserves. Rivian said late Monday it has secured conditional commitment for a $6.6 billion loan from the Department of Energy, funds that will help the EV maker restart construction of a massive factory in Geor… Rivian (RIVN) announced late Monday that it has received “conditional commitment” from the Department of Energy for a $6.6 billion loan to finance the construction of a factory in Georgia. The company plans to produce R2 vehicles, a smaller SUV, in Georgia with lower price tags aimed at a mass market.

RIVN Competitors

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.

“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.

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.

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.