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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed at $30.83 in the latest trading session, marking a +0.23% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 5.78% in the past month. In that same time, the Auto-Tires-Trucks sector gained 4.85%, while the S&P 500 gained 1.51%.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be August 11, 2022.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.39 per share and revenue of $1.66 billion, which would represent changes of +56.77% and +2926.03%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
Rivian Automotive (RIVN - Free Report) closed at $30.83 in the latest trading session, marking a +0.23% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 5.78% in the past month. In that same time, the Auto-Tires-Trucks sector gained 4.85%, while the S&P 500 gained 1.51%.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be August 11, 2022.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.39 per share and revenue of $1.66 billion, which would represent changes of +56.77% and +2926.03%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.