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Rivian Automotive (RIVN) closed the most recent trading day at $26.24, moving -0.68% from the previous trading session. This change lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 10.77% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 7.74% and the S&P 500's loss of 8.32% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$6.39 per share and revenue of $1.66 billion. These totals would mark changes of +56.77% and +2926.03%, respectively, from last year.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 163, putting it in the bottom 36% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.