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

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They currently have a $11.00 target price on the stock. D. Boral Capital’s price target indicates a potential upside of 494.59% from the stock’s current price.

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

New Horizon Aircraft Price Performance

NASDAQ:HOVR opened at $1.85 on Wednesday. The firm’s 50-day moving average price is $1.89 and its 200-day moving average price is $2.00. New Horizon Aircraft has a 1-year low of $0.35 and a 1-year high of $4.18. The company has a market capitalization of $81.86 million, a PE ratio of -2.53 and a beta of 2.97.

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

Hedge Funds Weigh In On New Horizon Aircraft

Several hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. bought a new stake in shares of New Horizon Aircraft during the second quarter worth $602,000. Marshall Wace LLP bought a new stake in New Horizon Aircraft during the 2nd quarter valued at about $38,000. Bank of America Corp DE bought a new stake in New Horizon Aircraft during the 2nd quarter valued at about $27,000. Gabelli Funds LLC purchased a new position in shares of New Horizon Aircraft during the third quarter worth approximately $51,000. Finally, Virtu Financial LLC bought a new stake in shares of New Horizon Aircraft during the third quarter valued at approximately $244,000. Institutional investors own 65.97% of the company’s stock.

About New Horizon Aircraft

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.