Archer Aviation Inc. (ACHR) closed at $8.53 in the latest trading session, marking a -0.7% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.06%. Elsewhere, the Dow saw an upswing of 0.28%, while the tech-heavy Nasdaq depreciated by 0.1%.
Heading into today, shares of the company had gained 18.32% over the past month, outpacing the Aerospace sector's loss of 4.22% and the S&P 500's loss of 4.29% in that time.
The investment community will be closely monitoring the performance of Archer Aviation Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.21, indicating an 8.7% growth compared to the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Archer Aviation Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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, there's been no change in the Zacks Consensus EPS estimate. Right now, Archer Aviation Inc. possesses a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 154, placing it within the bottom 38% of over 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.
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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