New Horizon Aircraft’s (HOVR) “Buy” Rating Reaffirmed at D. Boral Capital

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating restated by stock analysts at D. Boral Capital in a research note issued to investors on Friday,Benzinga reports. They presently have a $11.00 target price on the stock. D. Boral Capital’s price target suggests a potential upside of 433.98% from the stock’s current price.

HOVR has been the topic of several other research reports. D Boral Capital raised shares of New Horizon Aircraft to a “strong-buy” rating in a report on Wednesday, October 15th. 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 Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.00.

New Horizon Aircraft Trading Down 7.2%

HOVR stock opened at $2.06 on Friday. New Horizon Aircraft has a 1-year low of $0.35 and a 1-year high of $4.18. The business’s 50 day moving average is $1.84 and its 200-day moving average is $1.98. The firm has a market cap of $91.16 million, a P/E ratio of -2.82 and a beta of 2.99.

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 analysts’ consensus estimates of ($0.08) by ($0.07).

Institutional Trading of New Horizon Aircraft

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. acquired a new position in New Horizon Aircraft during the 2nd quarter valued at about $602,000. Marshall Wace LLP bought a new stake in shares of New Horizon Aircraft during the second quarter worth approximately $38,000. Gabelli Funds LLC acquired a new position in New Horizon Aircraft in the third quarter valued at approximately $51,000. Bank of America Corp DE bought a new position in New Horizon Aircraft in the second quarter valued at approximately $27,000. Finally, Scientech Research LLC acquired a new stake in New Horizon Aircraft during the 3rd quarter worth $35,000. 65.97% of the stock is owned by 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.