What's Going On With Rivian Automotive Stock?

Rivian Automotive, Inc. RIVN shares are trading higher Wednesday, and the stock is up more than 30% over the last six months.

What To Know:

Rivian shares are climbing on heavy trading volume Wednesday with more than 32.4 million shares already traded in the session. According to data from Benzinga Pro, the stock has a 100-day average volume of 37.614 million shares.

On Monday, Goldman Sachs analyst Mark Delaney maintained Rivian Automotive with a Neutral and lowered the price target from $25 to $19.

Rivian has grabbed the attention of retail investors and short-sellers. The stock is one of the top trending tickers on Yahoo Finance with 18.77% of available RIVN shares being sold short.

According to data from Benzinga Pro, shares of RIVN are trading above the stock's 50-day moving average of $18.12 and well-below its 52-week high of $31.34.

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RIVN Price Action: According to Benzinga Pro, Rivian Automotive shares are up nearly 10% at $19.10 at the time of publication.

Image: Courtesy of Rivian Automotive, Inc.