In the latest trading session, Rivian Automotive, Inc. (RIVN) closed at $64.51, marking a -0.78% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.89%. Elsewhere, the Dow lost 1.3%, while the tech-heavy Nasdaq lost 0.17%.

Prior to today's trading, shares of the company had lost 32.86% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 5.69% and the S&P 500's loss of 1.79% in that time.

Rivian Automotive, Inc. will be looking to display strength as it nears its next earnings release.

It is also important to note the recent changes to analyst estimates for Rivian Automotive, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive, Inc. currently has a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 155, putting 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.

To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.

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