Understanding RIVN's Price Drop Today

Rivian Automotive stock is trading -7.55% below its average target price of $25.95 after dropping -5.0% during today's afternoon session. Analysts are giving the large-cap company an average rating of buy and target prices ranging from $14.0 to $40.0 per share.

Rivian Automotive has an elevated short interest of 17.3%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 1.26. The company's insiders own 12.0% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. 62.8% of Rivian Automotive shares are held by institutional investors, which indicates a high level of confidence in the stock.

Institutions Invested in Rivian Automotive

Date Reported Holder Percentage Shares Value
2023-06-30 Amazon.com, Inc. 17% 158,363,834 $3,799,290,911
2023-03-31 Price (T.Rowe) Associates Inc 8% 76,776,122 $1,841,928,268
2023-03-31 Vanguard Group Inc 7% 61,428,303 $1,473,720,276
2023-03-31 Blackrock Inc. 5% 50,903,971 $1,221,232,079
2023-03-31 FMR, LLC 4% 34,126,728 $818,730,920
2023-03-31 Capital Research Global Investors 3% 23,715,099 $568,946,569
2023-03-31 D1 Capital Partners, LP 1% 13,908,880 $333,686,549
2023-03-31 State Street Corporation 1% 9,547,650 $229,056,716
2023-03-31 Geode Capital Management, LLC 1% 8,080,044 $193,847,527
2023-03-31 Morgan Stanley 1% 6,746,027 $161,843,259
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.