New Horizon Aircraft (NASDAQ:HOVR) Receives “Buy” Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of New Horizon Aircraft (NASDAQ:HOVR) in a research note released on Wednesday,Benzinga reports. D. Boral Capital currently has a $11.00 price objective on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of New Horizon Aircraft in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.00.

New Horizon Aircraft Price Performance

Shares of HOVR opened at $1.80 on Wednesday. The stock has a market capitalization of $79.65 million, a price-to-earnings ratio of -2.47 and a beta of 2.97. New Horizon Aircraft has a 1 year low of $0.35 and a 1 year high of $4.18. The business’s 50 day simple moving average is $1.89 and its 200-day simple moving average is $1.99.

New Horizon Aircraft (NASDAQ:HOVR) last announced its quarterly earnings results on Wednesday, January 14th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07).

Hedge Funds Weigh In On New Horizon Aircraft

A number of large investors have recently made changes to their positions in the company. Scientech Research LLC bought a new position in New Horizon Aircraft during the 3rd quarter valued at about $35,000. Bank of America Corp DE purchased a new position in shares of New Horizon Aircraft during the second quarter valued at approximately $27,000. Gabelli Funds LLC bought a new position in shares of New Horizon Aircraft during the third quarter valued at approximately $51,000. Marshall Wace LLP bought a new position in shares of New Horizon Aircraft during the second quarter valued at approximately $38,000. Finally, LPL Financial LLC purchased a new stake in shares of New Horizon Aircraft in the fourth quarter worth approximately $35,000. 65.97% of the stock is owned by hedge funds and other institutional investors.

New Horizon Aircraft Company Profile

New Horizon Aircraft Ltd., an aerospace original equipment manufacturer company, focuses on designing and developing hybrid electric vertical takeoff and landing (eVTOL) aircraft for the regional air mobility market in the Uinted States. The company is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically like and helicopter. New Horizon Aircraft Ltd. was founded in 2013 and is headquartered in Lindsay, Canada.