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Rivian Automotive (RIVN) Stock Declines While Market Improves: Some Information for Investors
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In the latest market close, Rivian Automotive (RIVN - Free Report) reached $13.34, with a -1.11% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.12%. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.23%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 12.06% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 10.27% and the S&P 500's loss of 3.45%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is slated to reveal its earnings on February 20, 2025. The company is predicted to post an EPS of -$0.67, indicating a 50.74% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.31 billion, down 0.21% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Rivian Automotive. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.7% decrease. At present, Rivian Automotive boasts 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 92, which puts it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Rivian Automotive (RIVN) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, Rivian Automotive (RIVN - Free Report) reached $13.34, with a -1.11% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.12%. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.23%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 12.06% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 10.27% and the S&P 500's loss of 3.45%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is slated to reveal its earnings on February 20, 2025. The company is predicted to post an EPS of -$0.67, indicating a 50.74% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.31 billion, down 0.21% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Rivian Automotive. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.7% decrease. At present, Rivian Automotive boasts 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 92, which puts it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.