Ravenstock has its best day ever after the EV maker reported 2024 production, deliveries.

Shares of Raven Automotive The best day ever was recorded after the electric vehicle maker reported 2024 production and deliveries that were in line with its previously announced expectations.

Raven stock rose 24.5% during the session on Friday to close at $16.49 a share. According to FactSet, this is the stock’s biggest daily percentage gain since the EV maker went public in November 2021. The previous record was 23.2%, set in June.

Raven said on Friday It produced 49,476 vehicles in 2024, including 12,727 trucks and vans during the fourth quarter, and delivered 51,579 vehicles, including 14,183 models, during the last three months of the year.

The automaker’s fourth-quarter shipments topped estimates of 13,472, according to 15 analysts polled by Visible Alpha. Reuters.

Raven in October Lowered its 2024 production target. Range of 47,000 to 49,000 vehicles – down from 57,000 units. The company expected to deliver 50,500 to 52,000 vehicles.

The company said in October that the adjusted target was due to “production disruptions due to common component shortages” for its existing vehicles – the R1T pickup, R1S SUV and commercial delivery van.

The company said Friday that the previously discussed shortage “no longer impedes production of the Raven.”

Raven’s stock is down 43% year-to-date. The company burned through cash. and missed their production targets.

Raven is scheduled to announce its fourth quarter financial results on February 20.