"When Rivian reported Q3 earnings on Nov. 4, it beat on the top line but missed on the bottom line with quarterly EPS of 65 cents versus 72 expected, and revenue of $1.56 billion beating expectations of $1.5 billion. Institutional ownership remains somewhat wary of the stock, with 54.62% of its float currently held by institutions. The largest institutional holder of RIVN remains Amazon (NASDAQ:AMZN) with more than 158 million shares."
"On Sept. 23, Mizuho raised its price target on Rivian to $14 from $12, keeping a "Neutral" rating on the shares. The firm increased estimates in the autos space, saying U.S. tariffs should have a minimal impact on new vehicle prices. In addition, August U.S. electric vehicle sales were up 17% year-over-year as consumers look to cash in before the Inflation Reduction Act credits end, according to a Mizhuo research note to investors."
Shares of Rivian popped 26.87% over five trading sessions after losing 1.57% the five prior, appearing to find a short-term bottom after a late-September skid. On the year, RIVN is down 0.45%, and over the past year it is up 23.85%. Q3 results showed revenue of $1.56 billion beating expectations while quarterly EPS missed at $0.65 versus $0.72 expected. Institutional investors hold 54.62% of the float, with Amazon the largest holder at more than 158 million shares. Mizuho raised its price target to $14 while keeping a Neutral rating. Rivian is advancing a Georgia plant planned for 2028 and integrated Google Maps data into its vehicle navigation. The company IPO'ed in November 2021 and initially surged to $180 amid significant cash needs and strategic backers including Amazon and Ford.
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