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Archer Aviation Inc. (ACHR) Stock Sinks As Market Gains: Here's Why
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In the latest market close, Archer Aviation Inc. (ACHR - Free Report) reached $3.97, with a -1% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.
The company's stock has dropped by 16.28% in the past month, falling short of the Aerospace sector's loss of 5.88% and the S&P 500's loss of 3.01%.
Investors will be eagerly watching for the performance of Archer Aviation Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 9, 2024. The company's upcoming EPS is projected at -$0.29, signifying a 19.44% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Archer Aviation Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Archer Aviation Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Archer Aviation Inc. (ACHR) Stock Sinks As Market Gains: Here's Why
In the latest market close, Archer Aviation Inc. (ACHR - Free Report) reached $3.97, with a -1% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.
The company's stock has dropped by 16.28% in the past month, falling short of the Aerospace sector's loss of 5.88% and the S&P 500's loss of 3.01%.
Investors will be eagerly watching for the performance of Archer Aviation Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 9, 2024. The company's upcoming EPS is projected at -$0.29, signifying a 19.44% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Archer Aviation Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Archer Aviation Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.