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Rivian Automotive (RIVN) Stock Moves -0.1%: What You Should Know

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The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $10.32, reflecting a -0.1% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 0.16% loss on the day. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq decreased by 0.18%.

Shares of the a manufacturer of motor vehicles and passenger cars witnessed a gain of 3.82% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 3.02% and the S&P 500's gain of 3.15%.

The investment community will be closely monitoring the performance of Rivian Automotive in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$1.18, reflecting a 9.26% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $922.53 million, down 17.7% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$4.04 per share and revenue of $4.68 billion, indicating changes of +17.21% and +5.55%, respectively, compared to the previous year.

Investors should also take note of any recent adjustments to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. 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 has a Zacks Industry Rank of 35, which puts it in the top 14% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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