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Rivian Automotive (RIVN) Stock Sinks As Market Gains: What You Should Know
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $13.62, moving -0.66% from the previous trading session. This move lagged the S&P 500's daily gain of 0.56%. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 1.35%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 24.59% over the past month, lagging the Auto-Tires-Trucks sector's loss of 5.84% and the S&P 500's loss of 1.48% in that time.
Rivian Automotive will be looking to display strength as it nears its next earnings release. In that report, analysts expect Rivian Automotive to post earnings of -$1.55 per share. This would mark a year-over-year decline of 8.39%. Meanwhile, our latest consensus estimate is calling for revenue of $711.98 million, up 649.46% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.46 per share and revenue of $4.52 billion. These totals would mark changes of +13.88% and +172.55%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.08% lower. Rivian Automotive is currently sporting 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 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.