Rivian Automotive (RIVN) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2 min read
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Rivian Automotive (RIVN) closed the most recent trading day at $25.70, moving -0.16% from the previous trading session. This change lagged the S&P 500's 1.06% gain on the day. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 0.4%.

Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 19.41% over the past month, lagging the Auto-Tires-Trucks sector's loss of 9.43% and the S&P 500's loss of 8.3% in that time.

Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date.

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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Rivian Automotive is currently a Zacks Rank #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 40% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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