Wall Street is positive on Rivian Automotive Inc (RIVN). On average, analysts give RIVN a Buy rating. The average price target is $56.4, which means analysts expect the stock to climb by 70.44% over the next twelve months.
That average ranking earns RIVN an Analyst Rating of 32, which is better than 32% of stocks based on data compiled by InvestorsObserver.
Wall Street analysts are rating RIVN a Buy today. Find out what this means to you and get the rest of the rankings on RIVN!
Why are Analyst Ratings Important?
Analysts know the inner workings of the companies they follow better than anyone but the companies’ management. You can learn a lot about a company from studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in one part of the world can disrupt supply chains, or disrupt shopping patterns. This lets traders make decisions before a quarterly report that could be worse than expected.
InvestorsObserver aggregates the ratings of all the analysts covering a given stock, takes the average of those ratings and then percentile ranks the averages. That provides a level of granularity that is significantly better than just the three levels provided by traditional buy/hold/sell ratings.
What's Happening With Rivian Automotive Inc Stock Today?
Rivian Automotive Inc (RIVN) stock is trading at $33.09 as of 11:03 AM on Thursday, Sep 29, a decline of -$1.99, or -5.67% from the previous closing price of $35.08. The stock has traded between $32.58 and $35.76 so far today. Volume today is low. So far 6,362,960 shares have traded compared to average volume of 17,786,208 shares.
Click Here to get the full Stock Report for Rivian Automotive Inc stock.