In the latest trading session, Archer Aviation Inc. (ACHR) closed at $7.20, marking a +2.13% move from the previous day. This move outpaced the S&P 500's daily loss of 0.84%. On the other hand, the Dow registered a loss of 0.34%, and the technology-centric Nasdaq decreased by 1.43%.
Heading into today, shares of the company had lost 17.64% over the past month, lagging the Aerospace sector's gain of 5.34% and the S&P 500's gain of 1.8%.
Analysts and investors alike will be keeping a close eye on the performance of Archer Aviation Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.17, up 63.83% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.74 per share and revenue of $0 million, indicating changes of +34.51% 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 recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Archer Aviation Inc. is currently a Zacks Rank #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 40% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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