New Horizon Aircraft (NASDAQ:HOVR) Given “Buy” Rating at D. Boral Capital

D. Boral Capital restated their buy rating on shares of New Horizon Aircraft (NASDAQ:HOVR) in a report published on Monday,Benzinga reports. The firm currently has a $2.00 price target on the stock.

New Horizon Aircraft Stock Performance

HOVR opened at $0.49 on Monday. New Horizon Aircraft has a twelve month low of $0.24 and a twelve month high of $2.50. The business has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.58.

New Horizon Aircraft (NASDAQ:HOVR) last posted its earnings results on Monday, April 14th. The company reported ($0.17) earnings per share (EPS) for the quarter.

Insider Buying and Selling at New Horizon Aircraft

In other news, major shareholder Dustin M. Shindo sold 65,500 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $0.49, for a total value of $32,095.00. Following the completion of the sale, the insider now directly owns 1,308,793 shares of the company’s stock, valued at approximately $641,308.57. This represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 167,870 shares of company stock valued at $84,953 in the last 90 days. 11.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On New Horizon Aircraft

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Capital Investment Advisors LLC bought a new stake in New Horizon Aircraft Ltd. (NASDAQ:HOVR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned 0.11% of New Horizon Aircraft as of its most recent filing with the Securities and Exchange Commission (SEC). 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.