Rivian Automotive (RIVN) Stock Update
Current Status:
- Closing Price: $15.45 (+1.05% change)
- Market Performance: Outperformed the S&P 500 (+0.51%), Dow (+0.93%), and Nasdaq (+0.48%).
Recent Performance:
- Prior to today, RIVN shares had decreased by 8.99%, compared to the Auto-Tires-Trucks sector’s gain of 2.05% and the S&P 500’s gain of 0.74%.
Upcoming Earnings:
- Projected EPS: -$0.67 (up 4.29% YoY)
- Revenue Forecast: $1.92 billion (up 23.27% YoY)
Fiscal Year Estimates:
- Earnings Per Share: -$2.25 (up 8.16% YoY)
- Total Revenue: $7.29 billion (up 35.36% YoY)
Analyst Insights:
- Pay attention to changes in analyst estimates, which reflect evolving business trends.
- Positive revisions indicate optimism about the company’s profitability.
Zacks Rank:
- RIVN currently holds a Zacks Rank of #3 (Hold).
- The Zacks Rank is a quantitative model that incorporates estimate changes, providing a viable stock rating system.
- Stocks ranked #1 (Strong Buy) have averaged a +25% annual return since 1988.
Industry Overview:
- Rivian is part of the Automotive – Domestic industry within the Auto-Tires-Trucks sector.
- The industry carries a Zacks Industry Rank of 48, placing it in the top 20%.
Key Takeaway:
Utilize Zacks.com to monitor metrics that drive stock movements in Rivian and other investments as trading sessions progress.
