tl;dr
After disappointing Q4 results and downgrades from J.P. Morgan and UBS, the bad news continues to pour in for Rivian (NASDAQ: RIVN) with another analyst taking a dim view of the EV maker’s outlook. Truist analysts, led by Jordan Levy, lowered their rating on the stock to Hold from Buy and slashed ...
After disappointing Q4 results and downgrades from J.P. Morgan and UBS, the bad news continues to pour in for Rivian (NASDAQ: RIVN) with another analyst taking a dim view of the EV maker’s outlook.
Truist analysts, led by Jordan Levy, lowered their rating on the stock to Hold from Buy and slashed their price target by 58% to just $11 on the company’s “elongated path to positive free cash flow.” The challenges for the company will likely be exacerbated by the planned factory shutdown in Q2 to refit and upgrade the company’s R1 production line. Market participants seem to be taking the downgrade in stride, however, as shares are higher on Monday after trading in the red for six consecutive days. Analysts remain mostly bullish on Rivian (RIVN) with Seeking Alpha authors and Wall Street analysts rating the company as a Buy, despite the challenging outlook and downgrades.
More about Rivian Automotive Inc
Rivian Automotive Inc is a manufacturing company in the motor vehicles & passenger car bodies industry, with a market cap of $9403617000. The stock has seen a -5.74% change in the past month, with a 4.682% return on equity and a -1.225% return on assets. The company has a total revenue of $4434000000 and a price-to-earnings ratio of 21.08. The market sentiment is currently neutral, with a Relative Strength Index (RSI) of 0.983.
More about Tesla Inc
Tesla, Inc. is a leading American electric vehicle and clean energy company with a strong presence in the plug-in and battery electric car segments, capturing 16% and 23% of the market respectively in 2020. The company also specializes in battery energy storage and solar energy generation systems, with 3 GWh of battery storage supplied in 2020. Tesla's stock performance has been positive, with a current price of $207.75 and a market capitalization of $611.38 billion. However, the stock has experienced volatility with a beta of 1.115, indicating potential fluctuations in response to market movements. Market sentiment towards Tesla remains positive, driven by its innovative products and services, but there are potential risks associated with the stock's high valuation and the competitive landscape in the electric vehicle and clean energy sectors.
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