New Horizon Aircraft (NASDAQ:HOVR – Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02, FiscalAI reports.
Here are the key takeaways from New Horizon Aircraft’s conference call:
- Horizon ended fiscal 2026 with a record CAD 78.3 million cash balance, up sharply from CAD 7.5 million a year ago, giving it more than 24 months of liquidity to fund development.
- Management said the company is now focused on full-scale Cavorite X7 assembly, with the demonstrator expected by spring 2027 and ground/flight testing to follow.
- The company highlighted progress on key partnerships, including BETA Technologies for flight controls, along with RAMPF, North Aircraft, Marshall Aerospace, Pratt & Whitney Canada, MT-Propeller, and MHI Regional Jet.
- Horizon reiterated that the X7 is designed around hybrid VTOL capabilities with all-weather operations, a 500-mile range, 250 mph max speed, and an estimated operating cost of about CAD 0.97 per passenger seat mile, far below comparable helicopters.
- Management said there is increasing commercial and defense interest, but it is still in discussions rather than formal commitments; it also sees licensing revenue as a potential near- to medium-term monetization path before aircraft sales ramp.
New Horizon Aircraft Trading Up 4.7%
Shares of HOVR opened at $1.57 on Friday. New Horizon Aircraft has a 1-year low of $1.16 and a 1-year high of $4.18. The business’s 50-day moving average price is $2.20 and its 200 day moving average price is $1.98. The stock has a market capitalization of $88.52 million, a P/E ratio of -2.75 and a beta of 3.84.
Institutional Investors Weigh In On New Horizon Aircraft
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on HOVR. Wall Street Zen upgraded New Horizon Aircraft from a “strong sell” rating to a “sell” rating in a report on Saturday. D. Boral Capital restated a “buy” rating and issued a $11.00 target price on shares of New Horizon Aircraft in a research note on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of New Horizon Aircraft in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.50.
Check Out Our Latest Stock Analysis on HOVR
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.
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