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Rivian Automotive (RIVN) Dips More Than Broader Markets: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $40.59, moving -1.36% from the previous trading session. This move lagged the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 1.03% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 15.82% and the S&P 500's gain of 5.85% in that time.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be May 11, 2022.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$6.31 per share and revenue of $1.85 billion. These results would represent year-over-year changes of +57.31% and +3257.62%, respectively.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.99% lower within the past month. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Rivian Automotive (RIVN) Dips More Than Broader Markets: What You Should Know
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $40.59, moving -1.36% from the previous trading session. This move lagged the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 1.03% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 15.82% and the S&P 500's gain of 5.85% in that time.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be May 11, 2022.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$6.31 per share and revenue of $1.85 billion. These results would represent year-over-year changes of +57.31% and +3257.62%, respectively.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.99% lower within the past month. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.