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Here's Why Archer Aviation Inc. (ACHR) Fell More Than Broader Market
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Archer Aviation Inc. (ACHR - Free Report) ended the recent trading session at $8.42, demonstrating a -4.54% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.34%. Meanwhile, the Dow experienced a drop of 0.94%, and the technology-dominated Nasdaq saw an increase of 0.16%.
Prior to today's trading, shares of the company had gained 2.2% lagged the Aerospace sector's gain of 9.73% and outpaced the S&P 500's gain of 1.19%.
Investors will be eagerly watching for the performance of Archer Aviation Inc. in its upcoming earnings disclosure. In that report, analysts expect Archer Aviation Inc. to post earnings of -$0.17 per share. This would mark year-over-year growth of 63.83%.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.74 per share and a revenue of $0 million, representing changes of +34.51% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for Archer Aviation Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Archer Aviation Inc. holds a Zacks Rank of #2 (Buy).
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 106, this industry ranks in the top 44% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why Archer Aviation Inc. (ACHR) Fell More Than Broader Market
Archer Aviation Inc. (ACHR - Free Report) ended the recent trading session at $8.42, demonstrating a -4.54% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.34%. Meanwhile, the Dow experienced a drop of 0.94%, and the technology-dominated Nasdaq saw an increase of 0.16%.
Prior to today's trading, shares of the company had gained 2.2% lagged the Aerospace sector's gain of 9.73% and outpaced the S&P 500's gain of 1.19%.
Investors will be eagerly watching for the performance of Archer Aviation Inc. in its upcoming earnings disclosure. In that report, analysts expect Archer Aviation Inc. to post earnings of -$0.17 per share. This would mark year-over-year growth of 63.83%.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.74 per share and a revenue of $0 million, representing changes of +34.51% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for Archer Aviation Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Archer Aviation Inc. holds a Zacks Rank of #2 (Buy).
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 106, this industry ranks in the top 44% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.