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 analysts at D. Boral Capital in a report issued on Friday,Benzinga reports. They presently have a $11.00 price objective on the stock. D. Boral Capital’s price target indicates a potential upside of 491.40% from the company’s current price.

HOVR has been the subject of a number of other research reports. D Boral Capital upgraded New Horizon Aircraft to a “strong-buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of New Horizon Aircraft in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

New Horizon Aircraft Stock Down 9.7%

Shares of New Horizon Aircraft stock opened at $1.86 on Friday. New Horizon Aircraft has a twelve month low of $0.35 and a twelve month high of $4.18. The company’s 50 day moving average is $1.85 and its 200 day moving average is $1.99. The company has a market cap of $82.31 million, a price-to-earnings ratio of -2.55 and a beta of 2.99.

New Horizon Aircraft (NASDAQ:HOVR) last announced its earnings results 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 Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Scientech Research LLC purchased a new stake in New Horizon Aircraft in the 3rd quarter worth approximately $35,000. Bank of America Corp DE bought a new position in shares of New Horizon Aircraft in the second quarter worth approximately $27,000. Gabelli Funds LLC purchased a new stake in shares of New Horizon Aircraft in the third quarter worth $51,000. Marshall Wace LLP bought a new stake in shares of New Horizon Aircraft during the 2nd quarter valued at $38,000. Finally, Virtu Financial LLC bought a new stake in shares of New Horizon Aircraft during the 3rd quarter valued at $244,000. 65.97% of the stock is owned by hedge funds and other institutional investors.

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. New Horizon Aircraft Ltd. was founded in 2013 and is headquartered in Lindsay, Canada.