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Why Archer Aviation Inc. (ACHR) Dipped More Than Broader Market Today
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Archer Aviation Inc. (ACHR - Free Report) ended the recent trading session at $4.82, demonstrating a -1.03% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.17%. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, added 0.27%.
Prior to today's trading, shares of the company had lost 6.17% over the past month. This has lagged the Aerospace sector's loss of 1.54% and the S&P 500's loss of 3.95% in that time.
Market participants will be closely following the financial results of Archer Aviation Inc. in its upcoming release. The company plans to announce its earnings on November 9, 2023. On that day, Archer Aviation Inc. is projected to report earnings of -$0.30 per share, which would represent a year-over-year decline of 11.11%.
Investors should also take note of any recent adjustments to analyst estimates for Archer Aviation Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Archer Aviation Inc. boasts a Zacks Rank of #2 (Buy).
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% 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.
To follow ACHR in the coming trading sessions, be sure to utilize Zacks.com.
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Why Archer Aviation Inc. (ACHR) Dipped More Than Broader Market Today
Archer Aviation Inc. (ACHR - Free Report) ended the recent trading session at $4.82, demonstrating a -1.03% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.17%. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, added 0.27%.
Prior to today's trading, shares of the company had lost 6.17% over the past month. This has lagged the Aerospace sector's loss of 1.54% and the S&P 500's loss of 3.95% in that time.
Market participants will be closely following the financial results of Archer Aviation Inc. in its upcoming release. The company plans to announce its earnings on November 9, 2023. On that day, Archer Aviation Inc. is projected to report earnings of -$0.30 per share, which would represent a year-over-year decline of 11.11%.
Investors should also take note of any recent adjustments to analyst estimates for Archer Aviation Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Archer Aviation Inc. boasts a Zacks Rank of #2 (Buy).
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% 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.
To follow ACHR in the coming trading sessions, be sure to utilize Zacks.com.