Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Rivian stock could crash another 45% from here: Barclays warns By: Invezz February 12, 2024 at 10:13 AM EST Rivian Automotive Inc (NASDAQ: RIVN) is already down well over 20% year-to-date but a Barclays analyst warns it could continue to sink sharply over the next twelve months.Rivian stock has downside to $9.0Dan Levy downgraded the electric vehicles company this morning to “equal weight” and slashed his price to $9.0 which suggests an alarming 45% downside from here.The analyst is super dovish on Rivian stock primarily because he expects the broader slowdown in the EV space to make it harder for the Nasdaq-listed firm to turn positive in terms of margins and cash flow.$RIVN is scheduled to report its financial results for the fourth quarter on February 21st. Consensus is for it to lose $1.67 a share versus $1.73 per share a year ago.Watch here: https://www.youtube.com/embed/K01OxLtXRjU?feature=oembedRivian deliveries were down 10% in Q4A continued need for raising new capital particularly “in preparation for the high volume R2 in 2026” also factored into Dan Levy’s bearish call on Rivian stock today.Weaker demand is a threat to volume outlook and pricing – which suggests $RIVN will “miss its 2024 target of reaching gross margin profitability”, as per his research note to clients on Monday.In January, Rivian Automotive Inc said it delivered 13,972 vehicles in total in the fourth quarter – down some 10% sequentially but roughly in line with 14,000 deliveries that analysts had forecast.Reports of an Electric Vehicle Slowdown Have Been Greatly Exaggerated – Bloomberg"Sales of passenger EVs are on pace to hit a record 14 million this year, up 36% from 2022. In the US, sales are growing even faster and will be up 50% this year." pic.twitter.com/9ki7k39ENQ— Sawyer Merritt (@SawyerMerritt) December 6, 2023Note that Barclays view is in contrast with our market analyst Crispus Nyaga who recently added the Irvine-headquartered firm to his list of top EV stocks to buy on the dip. The post Rivian stock could crash another 45% from here: Barclays warns appeared first on Invezz Related Stocks: Bio-Techne Corp Liberty All Star Equity Fund Rivian Automotive, Inc. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Rivian stock could crash another 45% from here: Barclays warns By: Invezz February 12, 2024 at 10:13 AM EST Rivian Automotive Inc (NASDAQ: RIVN) is already down well over 20% year-to-date but a Barclays analyst warns it could continue to sink sharply over the next twelve months.Rivian stock has downside to $9.0Dan Levy downgraded the electric vehicles company this morning to “equal weight” and slashed his price to $9.0 which suggests an alarming 45% downside from here.The analyst is super dovish on Rivian stock primarily because he expects the broader slowdown in the EV space to make it harder for the Nasdaq-listed firm to turn positive in terms of margins and cash flow.$RIVN is scheduled to report its financial results for the fourth quarter on February 21st. Consensus is for it to lose $1.67 a share versus $1.73 per share a year ago.Watch here: https://www.youtube.com/embed/K01OxLtXRjU?feature=oembedRivian deliveries were down 10% in Q4A continued need for raising new capital particularly “in preparation for the high volume R2 in 2026” also factored into Dan Levy’s bearish call on Rivian stock today.Weaker demand is a threat to volume outlook and pricing – which suggests $RIVN will “miss its 2024 target of reaching gross margin profitability”, as per his research note to clients on Monday.In January, Rivian Automotive Inc said it delivered 13,972 vehicles in total in the fourth quarter – down some 10% sequentially but roughly in line with 14,000 deliveries that analysts had forecast.Reports of an Electric Vehicle Slowdown Have Been Greatly Exaggerated – Bloomberg"Sales of passenger EVs are on pace to hit a record 14 million this year, up 36% from 2022. In the US, sales are growing even faster and will be up 50% this year." pic.twitter.com/9ki7k39ENQ— Sawyer Merritt (@SawyerMerritt) December 6, 2023Note that Barclays view is in contrast with our market analyst Crispus Nyaga who recently added the Irvine-headquartered firm to his list of top EV stocks to buy on the dip. The post Rivian stock could crash another 45% from here: Barclays warns appeared first on Invezz Related Stocks: Bio-Techne Corp Liberty All Star Equity Fund Rivian Automotive, Inc.