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Rivian Automotive (RIVN) Stock Moves 0.89%: What You Should Know
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Rivian Automotive (RIVN - Free Report) ended the recent trading session at $11.36, demonstrating a +0.89% swing from the preceding day's closing price. The stock traded in line with S&P 500. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 1.25%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 29.14% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 2.46% and the S&P 500's gain of 3.56%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. It is anticipated that the company will report an EPS of -$1.14, marking an 8.8% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.08 billion, indicating a 63.67% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$4.07 per share and a revenue of $4.74 billion, indicating changes of +16.6% and +6.9%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.69% higher. As of now, Rivian Automotive holds a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 62, finds itself in the top 25% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Rivian Automotive (RIVN) Stock Moves 0.89%: What You Should Know
Rivian Automotive (RIVN - Free Report) ended the recent trading session at $11.36, demonstrating a +0.89% swing from the preceding day's closing price. The stock traded in line with S&P 500. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 1.25%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 29.14% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 2.46% and the S&P 500's gain of 3.56%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. It is anticipated that the company will report an EPS of -$1.14, marking an 8.8% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.08 billion, indicating a 63.67% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$4.07 per share and a revenue of $4.74 billion, indicating changes of +16.6% and +6.9%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.69% higher. As of now, Rivian Automotive holds a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 62, finds itself in the top 25% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.