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

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating reiterated by equities research analysts at D. Boral Capital in a report issued on Friday,Benzinga reports. They presently have a $2.00 target price on the stock. D. Boral Capital’s price target would indicate a potential upside of 193.17% from the company’s previous close.

New Horizon Aircraft Stock Performance

Shares of HOVR stock opened at $0.68 on Friday. New Horizon Aircraft has a twelve month low of $0.24 and a twelve month high of $1.67. The business has a fifty day simple moving average of $0.50 and a 200 day simple moving average of $0.60.

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

Insider Buying and Selling at New Horizon Aircraft

In other New Horizon Aircraft news, major shareholder Dustin M. Shindo sold 75,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $0.50, for a total value of $37,500.00. Following the completion of the transaction, the insider now directly owns 1,394,368 shares in the company, valued at approximately $697,184. This trade represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 151,500 shares of company stock worth $75,295. 11.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On New Horizon Aircraft

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Capital Investment Advisors LLC purchased a new stake in New Horizon Aircraft Ltd. (NASDAQ:HOVR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned 0.11% of New Horizon Aircraft at the end of the most recent quarter. 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.