Rivian Stock Is Falling Wednesday: What's Going On?

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower on Wednesday after the company reported a second-quarter earnings per share miss on Tuesday after the market closed.

What To Know: Rivian reported a loss of 97 cents per share, missing the consensus estimate of a 76 cent loss. In addition, the company reported sales of $1.30 billion, beating the consensus estimate of $1.29 billion.

Rivian delivered 10,661 vehicles during the second quarter and produced 5,979 units at its Illinois factory, with the company citing ongoing supply chain issues and shifting trade policy as limiting factors.

It maintained its 2025 delivery guidance of 40,000 to 46,000 vehicles, despite adjusting its full-year adjusted EBITDA loss forecast to between $2 billion and $2.25 billion.

The company also received a $1 billion equity investment from Volkswagen Group on June 30 as part of a broader joint venture agreement. Rivian said the investment price reflects a 33% premium to its 30-day volume-weighted average stock price. Executives noted the deal strengthens Rivian's capital position and aligns with its long-term technology strategy.

Rivian added that development of its next-generation R2 vehicle remains on track, with design validation builds already in progress at its pilot line in California. The company plans to shut down its Normal, Illinois, plant for approximately three weeks in September to complete equipment installation and ramp up manufacturing capacity.

Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.

• Needham analyst Chris Pierce maintained a Buy rating on Rivian and lowered the price target from $16 to $14.
• UBS analyst Joseph Spak maintained a Neutral rating on Rivian and lowered the price target from $13 to $12.
• Wedbush analyst Daniel Ives maintained an Outperform rating on Rivian and lowered the price target from $18 to $16.

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RIVN Price Action: Rivian shares closed Wednesday down 4.20% at $11.64, according to data from Benzinga Pro.

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