Archer Aviation Inc. (ACHR) closed at $7.14 in the latest trading session, marking a -1.24% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.36%. On the other hand, the Dow registered a loss of 2.48%, and the technology-centric Nasdaq decreased by 2.55%.
Heading into today, shares of the company had lost 17.09% over the past month, lagging the Aerospace sector's loss of 3.52% and the S&P 500's loss of 5.6% in that time.
Market participants will be closely following the financial results of Archer Aviation Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.21, signifying an 8.7% increase compared to the same quarter of the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Archer Aviation Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Archer Aviation Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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