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

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating restated by stock analysts at D. Boral Capital in a report released on Wednesday,Benzinga reports. They currently have a $11.00 price target on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of New Horizon Aircraft in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, New Horizon Aircraft currently has a consensus rating of “Hold” and a consensus target price of $11.00.

New Horizon Aircraft Trading Down 5.0%

Shares of HOVR stock opened at $1.71 on Wednesday. The firm has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $1.99. New Horizon Aircraft has a 12 month low of $0.35 and a 12 month high of $4.18. The firm has a market capitalization of $75.67 million, a PE ratio of -2.34 and a beta of 2.97.

New Horizon Aircraft (NASDAQ:HOVR) last released its quarterly earnings data on Wednesday, January 14th. The company reported ($0.15) earnings per share 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 have recently added to or reduced their stakes in HOVR. Rockefeller Capital Management L.P. purchased a new position in shares of New Horizon Aircraft in the 2nd quarter worth approximately $602,000. Renaissance Technologies LLC increased its position in shares of New Horizon Aircraft by 15.0% during the fourth quarter. Renaissance Technologies LLC now owns 695,100 shares of the company’s stock valued at $1,022,000 after acquiring an additional 90,500 shares during the last quarter. LPL Financial LLC bought a new stake in New Horizon Aircraft during the fourth quarter worth $35,000. Scientech Research LLC purchased a new position in New Horizon Aircraft in the third quarter worth $35,000. Finally, Virtu Financial LLC purchased a new position in New Horizon Aircraft in the third quarter worth $244,000. 65.97% of the stock is owned by 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. New Horizon Aircraft Ltd. was founded in 2013 and is headquartered in Lindsay, Canada.