Market reaction: Q1 beat offset by prod dip and vol [developing]
Key Questions
What was Rivian's stock price movement on the day of the report?
Rivian's stock closed at $14.69, down 3.92% for the day and 3.65% monthly. Year-to-date, it is down 25%, reflecting bearish moving averages.
Why did Rivian stock spike after hours?
Shares surged nearly 3% to $15.12 after hours following an R2 EPA leak. This positive news offset some of the day's declines.
What caused the market reaction despite a Q1 earnings beat?
The Q1 earnings beat (EPS -$0.59, revenue $1.34B) was offset by a production dip and high volatility exceeding 60% ahead of April 30 earnings. US sales fell 26.5% to 8,141 units, marking the fourth consecutive decline.
What are the analyst price targets for Rivian?
Analyst targets include DA $14, Baird $23, Canaccord $22, Deutsche $23, GS $17, CF $18, MS $12, with an average of $18 and Wedbush at $25. Canaccord reaffirmed a 'Buy' rating at $22.
How does Rivian's valuation compare to Tesla?
Rivian trades at a P/S ratio of 1.61-1.66x, considered undervalued compared to Tesla. This metric highlights potential value despite recent declines.
What is the options sentiment for Rivian stock?
Options sentiment is bullish despite mixed signals and a slight 0.19% daily drop in some reports. This contrasts with high short interest at 18%.
What is the overall analyst consensus for Rivian?
Zacks rates it as a Hold (#3), with Baird noting headwinds. Moving averages remain bearish amid ongoing volatility.
What recent sales trend is impacting Rivian?
US sales declined 26.5% to 8,141 units, the fourth straight monthly drop ahead of the R2 launch. This contributed to the stock stumble despite Q1 beats.
$14.69 (-3.92% day, monthly -3.65%)/AH +3% to $15.12 on R2 EPA leak (US sales -26.5% to 8,141/4th decline); MAs bearish/YTD -25%/vol 60%+ pre-Apr30 (EPS -$0.59/rev $1.34B); DA $14/Baird $23/Canaccord $22/Deutsche $23/GS $17/CF $18/MS $12/avg $18 (Wedbush $25); options bullish; P/S 1.61-1.66x undervalue vs TSLA; shorts 18%; Zacks Hold #3; Baird headwinds.