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The company’s shares have started the week on a tear, despite the expectation that Donald Trump will eliminate EV tax credits. If Rivian’s $6.6 billion government loan gets approved, it will support the construction of the EV maker’s new production facility in Georgia. The Tesla Inc TSLA Model Y is gaining new praise from the head of a rival automaker as the vehicle continues to be one of the bestselling vehicles in the world. Top institutional investors of Rivian Automotive include Baillie Gifford & Co. (4.99%), Geode Capital Management LLC (1.29%), Wolverine Asset Management LLC and Jane Street Group LLC. Insiders that own company stock include Motor Co Ford, Robert J Scaringe, Kjell Gruner, Claire Mcdonough, Jay T Flatley, Jeff Baker and Jiten Behl.
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Rivian Releases Fourth Quarter and Full Year 2023 Financial Results
VW increased its planned investment for a joint venture with EV startup Rivian to $5.8 billion as the companies have broader aspirations than initially announced for the operations. Goldman Sachs analyst Mark Delaney maintained a neutral rating on Rivian Automotive Inc. Rivian Automotive faces short-term production issues and potential loss of EV tax credits but remains a strong long-term investment with significant cash reserves. Rivian Automotive scored higher than 66% of companies evaluated by MarketBeat, and ranked 39th out of 93 stocks in the auto/tires/trucks sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation. However, that second fact isn’t quite enough to quiet bearish speculation — a 10b5-1 plan can include ‘trigger prices’ — allowing insiders to execute sales once favorable conditions are met.
Secondly, the trades were made in accordance with a 10b5-1 plan adopted back on March 8, 2024 — in other words, the trades were prescheduled. This plan allows Scaringe to sell up to 4,000,000 Rivian shares by June 9, 2025. Rivian said on Monday it has received conditional approval for a loan of up to $6.6 billion from the U.S. Department of Energy to build the electric vehicle maker’s android vs ios app development production facility in Georgia.
Please bear with rfp software development us as we address this and restore your personalized lists. Rivian is also building the Rivian Adventure Network, a series of charging stations along popular routes and out-of-the-way destinations. The charging stations can add up to 120 miles of range to a battery pack in just 20 minutes.
Rivian – Investors – Plant Tour
To see all exchange delays and terms of use please see Barchart’s disclaimer. Rivian (RIVN) wins preliminary approval for a $6.6 billion federal loan from the Department of Energy (DOE) that would go into finishing the build-out of an EV factory in Georgia. To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
This story was reviewed by MarketBeat’s editorial team prior to publication. The stock’s 50 day moving average price is $10.69 and its two-hundred day moving average price is $12.45. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a market capitalization of $12.47 billion, a price-to-earnings Top 10 commodities ratio of -2.12 and a beta of 2.04. Come along for a virtual tour of our state-of-the-art manufacturing facility in Normal, Illinois. Watch as Rivian founder and CEO RJ Scaringe walks you through each shop to explain how we’re making progress in producing electric vehicles at scale.
Scaringe still holds 863,361 Rivian shares directly, as well as 2,632,766 in a trust. The first phase of that plant won’t begin production until 2028, though. That includes uncertainty related to EV tax credits with a new administration taking over next year. News that California could offer its own tax credits should the Trump administration cancel existing credits helped boost Rivian stock yesterday. While Rivian Automotive currently has a „Hold” rating among analysts, top-rated analysts believe these five stocks are better buys. Rivian Automotive (RIVN) shares soared Wednesday, a day after the electric vehicle manufacturer expanded its partnership with Volkswagen in a move aimed at helping both firms find ways to grab more of…
News
Investors are digesting a flurry of news surrounding electric vehicle (EV) maker Rivian Automotive (RIVN 5.80%). It seems the market doesn’t know what to make of the mixed bag of information either. According to 23 analysts, the average rating for RIVN stock is „Buy.” The 12-month stock price forecast is $15.67, which is an increase of 28.23% from the latest price. © 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.
- If Rivian’s $6.6 billion government loan gets approved, it will support the construction of the EV maker’s new production facility in Georgia.
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- The CEO’s transaction encompassed 83,334 Rivian shares, sold at an average price of $11.25 per unit — worth a total of approximately $937,507.
- This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting.
- That includes $1 billion from a convertible note issued to Volkswagen as part of that agreement.
- Those plans are capital intensive, so the influx of funding is welcome news and explains the early pop in the stock today.
Those plans are capital intensive, so the influx of funding is welcome news and explains the early pop in the stock today. The company will begin producing the R2 at its existing Illinois facility, but the new Georgia plant is expected to significantly bolster Rivian’s capacity by as much as 400,000 units annually. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting.
Tesla Has Best EV Under $50K, Rivian CEO Says In Praise Of Rival: 'It’s A Great Brand’
Quite unexpectedly, 2024 has not been a good year for electric vehicle makers thus far — at least for most of them. Rivian recently launched a new joint venture with Volkswagen called „Rivian and VW Group Technology” that will focus on providing next-gen electrical architecture and software technology for future electric vehicles. The big news from the EV start-up today was a commitment for a conditional loan of up to $6.6 billion from the U.S. That funding, coming through a DOE manufacturing loan program, would help the company with the construction of a planned new production plant in Georgia.
Stock Lists
The company designs, develops, manufactures, and sells electric adventure vehicles and accessories through direct sales to consumers and commercial markets. The company vehicles are designed for sustainability and long lifespans across all components with repairability and reusability key to the end result. That includes engineering specifications such as easily removable batteries and batteries that can be easily recycled or repurposed into stationary power packs when their EV lifespan is spent. Firstly, the expiration date on those stock options was March 15, 2029 — potentially signaling that leadership is skeptical regarding the company’s long-term prospects.
The company issued 153,000,000 shares at a price of $57.00-$62.00 per share. Discover which analysts rank highest on predicting the price target of RIVN. Discover which analysts rank highest for RIVN overall weighted by direction, price target, and price movement.
Sanctuary Advisors LLC now owns 44,675 shares of the electric vehicle automaker’s stock valued at $457,000 after buying an additional 3,681 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Rivian Automotive during the third quarter worth $4,184,000. Institutional investors and hedge funds own 66.25% of the company’s stock. It’s the sixth-largest IPO ever on a US stock exchange, according to Bloomberg, and it’s hard to imagine the company picking a better time to debut. Tesla has generated an incredible amount of interest in electric vehicles and is now one of the most highly valued companies in the world. The company offers five-passenger pickup trucks and sports utility vehicles under the R1T and R1S labels.