New Horizon Aircraft (NASDAQ:HOVR) Coverage Initiated by Analysts at JonesTrading

JonesTrading began coverage on shares of New Horizon Aircraft (NASDAQ:HOVR) in a research note issued to investors on Monday,Benzinga reports. The brokerage issued a buy rating and a $18.00 price target on the stock.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of New Horizon Aircraft in a research report on Thursday, January 22nd. D. Boral Capital reiterated a “buy” rating and set a $11.00 target price on shares of New Horizon Aircraft in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, New Horizon Aircraft presently has an average rating of “Hold” and a consensus target price of $14.50.

New Horizon Aircraft Stock Down 1.1%

New Horizon Aircraft stock opened at $1.86 on Monday. New Horizon Aircraft has a 52-week low of $0.35 and a 52-week high of $4.18. The company has a market cap of $82.31 million, a P/E ratio of -2.55 and a beta of 2.97. The business has a 50-day simple moving average of $1.89 and a two-hundred day simple moving average of $2.01.

New Horizon Aircraft (NASDAQ:HOVR) last posted its quarterly earnings data on Wednesday, January 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07).

Institutional Investors Weigh In On New Horizon Aircraft

Several institutional investors and hedge funds have recently modified their holdings of the stock. Scientech Research LLC bought a new stake in shares of New Horizon Aircraft in the 3rd quarter worth about $35,000. Bank of America Corp DE purchased a new position in New Horizon Aircraft in the second quarter worth about $27,000. Gabelli Funds LLC bought a new stake in New Horizon Aircraft during the third quarter worth approximately $51,000. Marshall Wace LLP purchased a new stake in New Horizon Aircraft during the second quarter valued at approximately $38,000. Finally, LPL Financial LLC purchased a new stake in New Horizon Aircraft during the fourth quarter valued at approximately $35,000. Institutional investors own 65.97% of the company’s stock.

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.