New Horizon Aircraft (NASDAQ:HOVR) Receives Buy Rating from D. Boral Capital

D. Boral Capital reissued their buy rating on shares of New Horizon Aircraft (NASDAQ:HOVR) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $11.00 price objective on the stock.

HOVR has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of New Horizon Aircraft in a report on Thursday, January 22nd. D Boral Capital raised New Horizon Aircraft to a “strong-buy” rating in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned 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 price target of $11.00.

New Horizon Aircraft Stock Down 9.7%

HOVR opened at $1.86 on Friday. The firm has a 50-day moving average price of $1.85 and a 200-day moving average price of $1.98. New Horizon Aircraft has a twelve month low of $0.35 and a twelve month high of $4.18. The company has a market capitalization of $82.31 million, a price-to-earnings ratio of -2.55 and a beta of 2.99.

New Horizon Aircraft (NASDAQ:HOVR) last announced its quarterly earnings results 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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in New Horizon Aircraft during the second quarter worth about $27,000. Scientech Research LLC bought a new stake in shares of New Horizon Aircraft during the 3rd quarter valued at about $35,000. Marshall Wace LLP bought a new stake in shares of New Horizon Aircraft during the 2nd quarter valued at about $38,000. Gabelli Funds LLC purchased a new position in shares of New Horizon Aircraft during the third quarter worth about $51,000. Finally, Virtu Financial LLC bought a new position in shares of New Horizon Aircraft in the third quarter worth approximately $244,000. 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.