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Archer Aviation Inc Down 1.63% To $4.91 After Earnings Miss

Tuesday, February 27, 2024 10:38 AM | InvestorsObserver Analysts

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Archer Aviation Inc Down 1.63% To $4.91 After Earnings Miss

Archer Aviation Inc (ACHR) said after close Monday that it lost $0.34 per share in quarter four 2023. The company reported $0.00 in revenue

In the same quarter a year ago, the company lost $0.39 per share on revenue of $0.00.

The stock is down 1.63% to $4.91 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Archer Aviation Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 49. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Archer Aviation Inc advances the benefits of sustainable air mobility. It is creating the electric airline that moves people throughout cities in a quick, safe, sustainable, and cost-effective manner. It is designing, manufacturing, and operating a fully electric vertical takeoff and landing aircraft that can carry four passengers for around 60 miles at speeds of up to 150 mph while producing minimal noise.

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