After this morning's -1.8% drop to $24.26 per share, Rivian Automotive might just keep moving past its target price of $23.65. With an average analyst rating of buy, and target prices from $14.0 to $40.0, the stock's next move is anyone's guess.
The stock has an unusually large proportion of its shares sold short at 16.0%, and a short ratio of 3.41. The company's insiders own 12.16% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 68.1% of Rivian Automotive's shares being owned by this investor type.
Institutions Invested in Rivian Automotive
|2023-03-31||Price (T.Rowe) Associates Inc||8%||76,776,122||$1,862,696,223|
|2023-03-31||Vanguard Group, Inc. (The)||7%||61,428,303||$1,490,336,644|
|2023-03-31||Capital Research Global Investors||3%||23,715,099||$575,361,508|
|2023-03-31||D1 Capital Partners, LP||1%||13,908,880||$337,448,904|
|2023-03-31||State Street Corporation||1%||9,547,650||$231,639,357|
|2023-03-31||Geode Capital Management, LLC||1%||8,080,044||$196,033,181|
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Rivian Automotive.