Rivian Automotive (RIVN Quick QuoteRIVN - Free Report) closed the most recent trading day at $10.76, moving +1.41% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 2.13%. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 2.61%.

The a manufacturer of motor vehicles and passenger cars's stock has dropped by 20.23% in the past month, exceeding the Auto-Tires-Trucks sector's loss of 20.63% and lagging the S&P 500's loss of 9.57%.

The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. On that day, Rivian Automotive is projected to report earnings of -$0.80 per share, which would represent year-over-year growth of 32.77%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.01 billion, indicating a 16.47% decrease compared to the same quarter of the previous year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.87 per share and revenue of $5.45 billion, indicating changes of +28.96% and +9.61%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 15.08% decrease. Rivian Automotive presently features a Zacks Rank of #4 (Sell).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.