"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 56.25% 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."
"In July, the EV maker announced that is continuing work on its Georgia plant, which is slated to open in 2028. Earlier in July, Rivian announced a partnership with Google Maps on a new navigation system for its electric vehicles. Rivian will continue to offer its own customized navigation interface on the 15.6-inch center touchscreen, but the underlying data is now powered by the Automotive SDK from Google Maps instead of third-party alternatives."
Shares of Rivian fell 9.21% over the past five trading sessions after a 26.87% gain in the prior five, and have risen 12.23% year-to-date and 47.67% over the past year. Q3 results showed revenue of $1.56 billion beating expectations while EPS was $0.65 versus $0.72 expected. Institutional investors hold 56.25% of the float, with Amazon owning over 158 million shares. Mizuho raised its price target to $14 and kept a Neutral rating, citing modest tariff impact and stronger U.S. EV sales. Rivian is advancing a Georgia plant for 2028 and partnering with Google Maps for vehicle navigation.
Read at 24/7 Wall St.
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