New Horizon Aircraft’s (HOVR) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of New Horizon Aircraft (NASDAQ:HOVR) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $2.00 price objective on the stock.

Separately, Wall Street Zen raised New Horizon Aircraft to a “sell” rating in a research note on Saturday, June 14th.

New Horizon Aircraft Price Performance

Shares of HOVR opened at $1.63 on Wednesday. New Horizon Aircraft has a 12-month low of $0.24 and a 12-month high of $2.52. The business has a 50-day simple moving average of $1.45 and a two-hundred day simple moving average of $0.87.

Insider Buying and Selling at New Horizon Aircraft

In other New Horizon Aircraft news, CEO Eric Brandon Robinson sold 250,000 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $1.75, for a total transaction of $437,500.00. Following the sale, the chief executive officer owned 2,067,510 shares of the company’s stock, valued at approximately $3,618,142.50. This represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 10,599 shares of company stock valued at $11,241 over the last ninety days. Corporate insiders own 11.10% of the company’s stock.

Institutional Trading of New Horizon Aircraft

An institutional investor recently bought a new position in New Horizon Aircraft stock. Virtu Financial LLC bought a new stake in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,761 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned approximately 0.13% of New Horizon Aircraft at the end of the most recent reporting period. 65.97% of the stock is owned by hedge funds and other institutional investors.

New Horizon Aircraft Company Profile

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.