New Horizon Aircraft’s (HOVR) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital restated their buy rating on shares of New Horizon Aircraft (NASDAQ:HOVR) in a research report sent to investors on Thursday,Benzinga reports. D. Boral Capital currently has a $11.00 price objective on the stock.

A number of other research analysts also recently issued reports on the company. D Boral Capital raised New Horizon Aircraft to a “strong-buy” rating in a research note on Wednesday, October 15th. Weiss Ratings downgraded New Horizon Aircraft from a “hold (c-)” rating to a “sell (d-)” rating in a report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.00.

New Horizon Aircraft Trading Down 1.1%

Shares of HOVR opened at $1.77 on Thursday. The firm’s fifty day simple moving average is $2.31 and its two-hundred day simple moving average is $1.85. New Horizon Aircraft has a 12 month low of $0.35 and a 12 month high of $4.18. The stock has a market capitalization of $72.52 million, a P/E ratio of 17.70 and a beta of 2.94.

Insider Transactions at New Horizon Aircraft

In other New Horizon Aircraft news, CEO Eric Brandon Robinson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $3.42, for a total value of $342,000.00. Following the transaction, the chief executive officer owned 1,372,510 shares in the company, valued at approximately $4,693,984.20. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Frederick Merker sold 46,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $4.00, for a total value of $184,000.00. Following the completion of the sale, the chief executive officer directly owned 265,286 shares of the company’s stock, valued at $1,061,144. This trade represents a 14.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 286,000 shares of company stock valued at $1,063,600 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New Horizon Aircraft

A number of large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new stake in New Horizon Aircraft during the 2nd quarter valued at $602,000. Virtu Financial LLC bought a new position in shares of New Horizon Aircraft in the third quarter valued at $244,000. Gabelli Funds LLC acquired a new position in shares of New Horizon Aircraft during the third quarter valued at about $51,000. Bank of America Corp DE bought a new stake in shares of New Horizon Aircraft during the second quarter worth about $27,000. Finally, Marshall Wace LLP bought a new stake in shares of New Horizon Aircraft during the second quarter worth about $38,000. 65.97% of the stock is currently 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.