Rivian Automotive Inc. (NASDAQ:RIVN) shares surged 2.93% to $15.12 after hours on Wednesday. The same day an Environmental Protection Agency certification for the electric automaker’s upcoming R2 mid-size electric SUV was found posted on a popular online community for Rivian owners and enthusiasts.
R2 Range Filing Gives Rivian Fresh Boost
Rivian last month estimated that the R2 Performance would deliver about 330 miles of range, but the newly shared EPA certification filing on Rivian Forums suggests the electric SUV could reach as much as 335 miles. The filing also points to an updated heat pump, which should help the vehicle manage battery temperature more efficiently and squeeze out a bit more range.
At $57,990, the R2 Performance goes straight after the Tesla Inc. (NASDAQ:TSLA) Model Y in the performance electric SUV segment. If the 335-mile figure holds, Rivian would give the R2 roughly a 30-mile edge over the Model Y Performance, strengthening its case against the category's longtime benchmark.
As per an Investing.com report on Monday, Baird reiterated its Outperform rating and $23 price target on RIVN after the company reported first-quarter deliveries, even though deliveries came in below consensus estimates.
Rivian still grew deliveries about 6% from the previous quarter and 20% from a year earlier, and it reaffirmed its full-year target of 62,000 to 67,000 vehicles. Baird expects the first quarter to mark Rivian's low point for deliveries this year, but investors still face a bumpy ride.
Technical Analysis
At $15.12, Rivian is trading 2.28% below its 20-day simple moving average (SMA) of $15.47, suggesting a short-term bearish trend. Additionally, the stock is 9.33% below its 100-day SMA of $16.60, indicating a weaker intermediate trend.
The relative strength index (RSI) currently sits at 48, which is neutral and suggests that the stock is neither overbought nor oversold.
Rivian has a 12-month performance of 31.04%, reflecting a positive longer-term trend despite recent volatility. Currently, the stock is positioned near the middle of its 52-week range, suggesting a potential rebound or further decline depending on market conditions.
Earnings & Analyst Outlook
Rivian will report its next earnings on April 30, 2026, and analysts expect the company to post a loss of 73 cents per share on $1.35 billion in revenue, according to Benzinga Pro. That outlook implies a wider loss than a year ago, when Rivian lost 48 cents a share, but it also points to modest revenue growth from $1.24 billion.
Wall Street remains cautious on the stock overall, with analyst consensus hovering around a Hold rating and an average price target in the high teens. Still, some firms have turned more constructive in recent weeks, with DA Davidson upgrading Rivian to Neutral with a $14 target on April 1, and Canaccord Genuity reaffirming a Buy call while raising its target to $22 on March 20.
Benzinga's Edge Stock Rankings indicate that RIVN has a positive price trend in the long term, but a less favorable outlook in the Short and Medium term.
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