"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."
Rivian shares gained 3.06% over the past five trading sessions after a prior 9.21% decline, with year-to-date and one-year gains of 14.49% and 30.78% respectively. Q3 results showed revenue of $1.56 billion beating expectations while EPS missed at 65 cents versus 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 maintained a "Neutral" rating, citing minimal tariff impact and stronger U.S. EV sales. Rivian is advancing a Georgia plant slated for 2028 and partnered with Google Maps for navigation. The company IPO'ed in November 2021.
Read at 24/7 Wall St.
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