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
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Amazon.com, Inc. | 17% | 158,363,834 | $3,842,128,357 |
| 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 | Blackrock Inc. | 5% | 50,903,971 | $1,235,001,613 |
| 2023-03-31 | FMR, LLC | 4% | 34,126,728 | $827,962,206 |
| 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 |
| 2023-03-31 | Morgan Stanley | 1% | 6,746,027 | $163,668,060 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Rivian Automotive.
