Rivian Automotive (RIVN, $38.95) Q2 revenue beats expectations
Electric vehicle maker Rivian Automotive reported second-quarter revenue that exceeded Wall Street expectations.
The electric vehicle maker’s adjusted loss was -$1.62 per share, compared to the -$1.63 per share loss anticipated by analysts.
Revenue of $364 million came in higher than expectations of $337.5 million.
Rivian reaffirmed its expectations to make about 25,000 vehicles in 2022, in line with the reduced guidance it first provided in March. Its outlook on full-year adjusted loss before income, taxes, depreciation and amortization is $5.4 billion, wider than the $4.75 billion loss forecast it provided in May.
For the full year, Rivian is expecting $2 billion in capital expenditures, vs. $2.6 billion in its May outlook.
RIVN in -1.70% downward trend, declining for three consecutive days on June 02, 2023
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where RIVN declined for three days, in of 110 cases, the price declined further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for RIVN moved out of overbought territory on May 30, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 5 similar instances where the indicator moved out of overbought territory. In of the 5 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 15 cases where RIVN's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
RIVN broke above its upper Bollinger Band on May 26, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for RIVN entered a downward trend on May 05, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 04, 2023. You may want to consider a long position or call options on RIVN as a result. In of 22 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for RIVN just turned positive on May 01, 2023. Looking at past instances where RIVN's MACD turned positive, the stock continued to rise in of 13 cases over the following month. The odds of a continued upward trend are .
RIVN moved above its 50-day moving average on May 22, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for RIVN crossed bullishly above the 50-day moving average on May 18, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 3 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where RIVN advanced for three days, in of 64 cases, the price rose further within the following month. The odds of a continued upward trend are .
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. RIVN’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.075) is normal, around the industry mean (9.576). P/E Ratio (0.000) is within average values for comparable stocks, (96.019). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (5.873). RIVN has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.042). P/S Ratio (6.031) is also within normal values, averaging (74.952).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. RIVN’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock worse than average.
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Fundamental Analysis Ratings
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RIVN and
Correlation & Price change
A.I.dvisor indicates that over the last year, RIVN has been closely correlated with LCID. These tickers have moved in lockstep 69% of the time. This A.I.-generated data suggests there is a high statistical probability that if RIVN jumps, then LCID could also see price increases.
| Ticker / NAME | Correlation To RIVN | 1D Price Change % | ||
|---|---|---|---|---|
| RIVN | 100% | -0.69% | ||
| LCID - RIVN | 69% Closely correlated | +1.54% | ||
| TSLA - RIVN | 63% Loosely correlated | +3.11% | ||
| FSR - RIVN | 61% Loosely correlated | +0.41% | ||
| GM - RIVN | 56% Loosely correlated | +3.82% | ||
| WKHS - RIVN | 56% Loosely correlated | +1.47% | ||
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