In the latest trading session, Archer Aviation Inc. (ACHR) closed at $12.48, marking a -8.5% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.38% for the day. Meanwhile, the Dow experienced a drop of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.67%.
Coming into today, shares of the company had gained 60.28% in the past month. In that same time, the Aerospace sector gained 5.41%, while the S&P 500 gained 4.06%.
The upcoming earnings release of Archer Aviation Inc. will be of great interest to investors. The company is forecasted to report an EPS of -$0.2, showcasing a 16.67% upward movement from the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.78 per share and revenue of $0 million, indicating changes of +30.97% and 0%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Archer Aviation Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Archer Aviation Inc. is currently sporting a Zacks Rank of #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Archer Aviation Inc. (ACHR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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