Zacks Research Issues Optimistic Forecast for HOVR Earnings

New Horizon Aircraft Ltd. (NASDAQ:HOVR) – Investment analysts at Zacks Research raised their Q1 2027 earnings per share estimates for shares of 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 per share of ($0.08) for the quarter, up from their prior forecast of ($0.13). The consensus estimate for New Horizon Aircraft’s current full-year earnings is ($0.34) 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.

Several other brokerages also recently weighed in on HOVR. Wall Street Zen upgraded shares of New Horizon Aircraft from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 18th. D. Boral Capital reaffirmed a “buy” rating and set a $11.00 price objective on shares of New Horizon Aircraft in a research note on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of New Horizon Aircraft in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.50.

New Horizon Aircraft Stock Performance

Shares of New Horizon Aircraft stock opened at $1.78 on Thursday. The company’s fifty day moving average is $2.15 and its two-hundred day moving average is $1.99. New Horizon Aircraft has a 1 year low of $1.16 and a 1 year high of $4.18. The company has a market capitalization of $118.96 million, a P/E ratio of -3.12 and a beta of 3.84.

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

Hedge Funds Weigh In On New Horizon Aircraft

A number of large investors have recently bought and sold shares of HOVR. Virtu Financial LLC purchased a new stake in shares of New Horizon Aircraft in the third quarter valued at about $244,000. Renaissance Technologies LLC lifted its position in New Horizon Aircraft by 15.0% in the fourth quarter. Renaissance Technologies LLC now owns 695,100 shares of the company’s stock valued at $1,022,000 after purchasing an additional 90,500 shares during the period. Quadrature Capital Ltd acquired a new stake in New Horizon Aircraft in the fourth quarter valued at about $96,000. Marshall Wace LLP purchased a new stake in New Horizon Aircraft in the 4th quarter valued at approximately $63,000. Finally, Central Pacific Bank Trust Division acquired a new position in New Horizon Aircraft during the 2nd quarter worth approximately $47,000. Hedge funds and other 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.