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Rivian Automotive (RIVN) Stock Moves -0.14%: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed at $34.44 in the latest trading session, marking a -0.14% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.74%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 2.07% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 10.38% and lagging the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be November 9, 2022. On that day, Rivian Automotive is projected to report earnings of -$1.78 per share, which would represent year-over-year growth of 76.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $512.31 million, up 51130.6% from the year-ago period.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$6.44 per share and revenue of $1.76 billion. These results would represent year-over-year changes of +56.43% and +3091.82%, respectively.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.46% lower within the past month. Rivian Automotive is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rivian Automotive (RIVN) Stock Moves -0.14%: What You Should Know
Rivian Automotive (RIVN - Free Report) closed at $34.44 in the latest trading session, marking a -0.14% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.74%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 2.07% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 10.38% and lagging the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be November 9, 2022. On that day, Rivian Automotive is projected to report earnings of -$1.78 per share, which would represent year-over-year growth of 76.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $512.31 million, up 51130.6% from the year-ago period.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$6.44 per share and revenue of $1.76 billion. These results would represent year-over-year changes of +56.43% and +3091.82%, respectively.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.46% lower within the past month. Rivian Automotive is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.