Zacks Research Issues Positive Outlook for HOVR Earnings

New Horizon Aircraft Ltd. (NASDAQ:HOVR) – Analysts at Zacks Research lifted their Q1 2027 earnings per share (EPS) estimates for New Horizon Aircraft in a research report issued to clients and investors on Friday, July 17th. Zacks Research analyst B. Lantier now forecasts that the company will post earnings of ($0.08) per share for the quarter, up from their previous forecast of ($0.13). The consensus estimate for New Horizon Aircraft’s current full-year earnings is ($0.55) per share. Zacks Research also issued estimates for New Horizon Aircraft’s Q2 2027 earnings at ($0.09) EPS, Q3 2027 earnings at ($0.09) EPS, Q4 2027 earnings at ($0.10) EPS and FY2027 earnings at ($0.34) EPS.

Other research analysts have also issued research reports about the stock. D. Boral Capital reiterated a “buy” rating and set a $11.00 price objective on shares of New Horizon Aircraft in a research note on Tuesday, April 14th. Weiss Ratings restated a “sell (e+)” rating on shares of New Horizon Aircraft in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised shares of New Horizon Aircraft from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.50.

New Horizon Aircraft Stock Performance

NASDAQ:HOVR opened at $1.91 on Thursday. The company’s 50-day simple moving average is $2.17 and its 200-day simple moving average is $1.99. New Horizon Aircraft has a fifty-two week low of $1.16 and a fifty-two week high of $4.18. The stock has a market capitalization of $107.69 million, a P/E ratio of -3.35 and a beta of 3.84.

New Horizon Aircraft (NASDAQ:HOVR) last announced its earnings results on Thursday, July 16th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02.

Institutional Investors Weigh In On New Horizon Aircraft

Several institutional investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new position in shares of New Horizon Aircraft during the second quarter valued at about $47,000. Gabelli Funds LLC boosted its stake in New Horizon Aircraft by 72.9% in the 1st quarter. Gabelli Funds LLC now owns 25,306 shares of the company’s stock worth $36,000 after purchasing an additional 10,673 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in New Horizon Aircraft in the 4th quarter worth approximately $96,000. Marshall Wace LLP purchased a new stake in New Horizon Aircraft during the 4th quarter worth approximately $63,000. Finally, Renaissance Technologies LLC grew its position in New Horizon Aircraft by 15.0% during the 4th quarter. Renaissance Technologies LLC now owns 695,100 shares of the company’s stock worth $1,022,000 after purchasing an additional 90,500 shares during the last quarter. Institutional investors and hedge funds own 65.97% of the company’s stock.

More New Horizon Aircraft News

Here are the key news stories impacting New Horizon Aircraft this week:

• Positive Sentiment: New Horizon Aircraft signed an LOI with V-Star Powered Lift Aviation for up to 100 hybrid eVTOLs, a potential $600 million order that points to strong commercial interest in its aircraft. Horizon Aircraft Secures LOI with V-Star Powered Lift Aviation for the Purchase of Up to 100 Hybrid eVTOLs for $600 Million
• Positive Sentiment: Zacks Research raised earnings estimates for fiscal 2027 and the 2027 quarters, indicating analysts see a somewhat better earnings path than before, even though losses are still expected.
• Neutral Sentiment: Zacks Research also lifted its 2028 estimates, which reflects gradually improving expectations for the business but does not yet change the fact that the company is still projected to lose money.

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.