These 5 Stocks Are Trending After Releasing Their Earnings Reports

In this article, we discuss the 5 stocks trending after releasing their earnings reports. If you want to read our detailed analysis of these companies, go directly to the These 10 Stocks Are Trending After Releasing Their Earnings Reports.

5. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holders: 47

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) fell to an all-time low in the pre-market trading session on Friday, March 11, 2022, after announcing lower-than-expected financial results for its fiscal fourth quarter.

Rivian Automotive, Inc. (NASDAQ:RIVN) reported a loss of $2.43 per share, narrower than a loss of $3.51 per share in the same period last year. However, it was wider than analysts’ average estimate for a loss of $1.97 per share. In addition, the quarterly revenue of $54 million also fell below the consensus of $60 million.

Looking forward, Rivian Automotive, Inc. (NASDAQ:RIVN) expects to produce 25,000 vehicles in the current fiscal year. But at the same time, the company warned that supply chain disruptions could affect its production operations in the current fiscal year.

Addressing shareholders in a letter, Rivian Automotive, Inc. (NASDAQ:RIVN) said:

“Through the first half of Q1 2022, we experienced several headwinds and other factors impacting our production ramp, including a planned 10-day shutdown to fine-tune our production lines, significant supply chain limitations, a large spike in COVID-19 cases likely attributable to the Omicron variant, and severe winter weather in Central Illinois. Like the rest of the industry, we anticipate supply chain challenges to persist through 2022.”