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Rivian Automotive (RIVN) Declines More Than Market: Some Information for Investors

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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $13.39, moving -2.73% from the previous trading session. This change lagged the S&P 500's daily loss of 0.84%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw a decrease of 0.91%.

Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 12.97% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 0%, and underperforming the S&P 500's gain of 1.44%.

Investors will be eagerly watching for the performance of Rivian Automotive in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.65, indicating a 46.28% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.29 billion, up 11.22% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.49 per share and revenue of $5.25 billion, indicating changes of +38.37% and +5.66%, respectively, compared to the previous year.

Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Rivian Automotive is currently a Zacks Rank #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 176, this industry ranks in the bottom 29% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.


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