Archer Aviation Inc. (ACHR) ended the recent trading session at $11.24, demonstrating a -5.31% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.53%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 0.52%.
The company's shares have seen an increase of 28.32% over the last month, surpassing the Aerospace sector's gain of 0.21% and the S&P 500's gain of 0.71%.
The investment community will be closely monitoring the performance of Archer Aviation Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.2, up 16.67% from the prior-year quarter.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Archer Aviation Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Archer Aviation Inc. currently has a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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