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Rivian Automotive (RIVN) shares ended the last trading session 24.5% higher at $16.49. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.4% gain over the past four weeks.
Rivian's stock surged following the release of its fourth-quarter and full-year 2024 production and delivery figures. The electric vehicle manufacturer delivered 51,579 vehicles in 2024, in line with its projected range of 50,500-52,000 units. It produced 49,476 vehicles in 2024, which exceeded its outlook of 47,000-49,000 units.
This a manufacturer of motor vehicles and passenger cars is expected to post quarterly loss of $0.67 per share in its upcoming report, which represents a year-over-year change of +50.7%. Revenues are expected to be $1.31 billion, down 0.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Rivian Automotive, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RIVN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Rivian Automotive is part of the Zacks Automotive - Domestic industry. Blue Bird (BLBD), another stock in the same industry, closed the last trading session 8.1% higher at $41.77. BLBD has returned -5.2% in the past month.
For Blue Bird , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.83. This represents a change of -8.8% from what the company reported a year ago. Blue Bird currently has a Zacks Rank of #1 (Strong Buy).
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Rivian Automotive, Inc. (RIVN) : Free Stock Analysis Report
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