New Horizon Aircraft (HOVR) Expected to Announce Earnings on Tuesday

New Horizon Aircraft (NASDAQ:HOVR) will likely be releasing its results before the market opens on Tuesday, January 13th. Analysts expect New Horizon Aircraft to post earnings of ($0.08) per share for the quarter.

New Horizon Aircraft Stock Performance

NASDAQ HOVR opened at $1.94 on Tuesday. The firm’s fifty day moving average price is $1.76 and its two-hundred day moving average price is $1.92. The stock has a market cap of $79.48 million, a PE ratio of 14.70 and a beta of 2.99. New Horizon Aircraft has a fifty-two week low of $0.35 and a fifty-two week high of $4.18.

Insider Buying and Selling

In other New Horizon Aircraft news, CEO Brian Frederick Merker sold 46,000 shares of New Horizon Aircraft stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $4.00, for a total transaction of $184,000.00. Following the completion of the transaction, the chief executive officer owned 265,286 shares in the company, valued at approximately $1,061,144. The trade was a 14.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Brandon Robinson sold 100,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 1,372,510 shares of the company’s stock, valued at $4,693,984.20. This trade represents a 6.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 286,000 shares of company stock valued at $1,063,600 in the last three months. Insiders own 10.80% of the company’s stock.

Institutional Trading of New Horizon Aircraft

A number of hedge funds have recently bought and sold shares of HOVR. Marshall Wace LLP bought a new stake in New Horizon Aircraft in the second quarter worth about $38,000. Bank of America Corp DE purchased a new stake in shares of New Horizon Aircraft during the 2nd quarter worth approximately $27,000. Gabelli Funds LLC bought a new stake in shares of New Horizon Aircraft in the 3rd quarter worth approximately $51,000. Virtu Financial LLC purchased a new position in New Horizon Aircraft in the third quarter valued at approximately $244,000. Finally, Scientech Research LLC bought a new position in New Horizon Aircraft during the third quarter valued at $35,000. 65.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. D. Boral Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of New Horizon Aircraft in a research report on Thursday, December 4th. D Boral Capital raised New Horizon Aircraft to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings lowered New Horizon Aircraft from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, New Horizon Aircraft currently has an average rating of “Moderate Buy” and an average target price of $11.00.

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.