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 report issued on Friday morning,Benzinga reports. They currently have a $11.00 price objective on the stock.

Several other equities research analysts also recently weighed in on HOVR. Weiss Ratings reissued a “sell (d-)” rating on shares of New Horizon Aircraft in a research note on Thursday, January 22nd. D Boral Capital raised New Horizon Aircraft to a “strong-buy” rating in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, New Horizon Aircraft presently has an average rating of “Moderate Buy” and an average price target of $11.00.

New Horizon Aircraft Stock Performance

NASDAQ HOVR opened at $1.86 on Friday. The company has a market capitalization of $82.31 million, a P/E ratio of -2.55 and a beta of 2.97. The stock has a 50 day moving average price of $1.85 and a 200-day moving average price of $1.99. New Horizon Aircraft has a one year low of $0.35 and a one year high of $4.18.

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

Institutional Investors Weigh In On New Horizon Aircraft

Large investors have recently modified their holdings of the business. Scientech Research LLC purchased a new stake in New Horizon Aircraft during the 3rd quarter valued at about $35,000. Virtu Financial LLC purchased a new stake in New Horizon Aircraft in the 3rd quarter worth approximately $244,000. Gabelli Funds LLC purchased a new stake in New Horizon Aircraft during the third quarter worth $51,000. Bank of America Corp DE purchased a new stake in shares of New Horizon Aircraft during the 2nd quarter worth about $27,000. Finally, Marshall Wace LLP purchased a new position in New Horizon Aircraft during the second quarter worth approximately $38,000. 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.