New Horizon Aircraft (NASDAQ:HOVR) Receives Buy Rating from D. Boral Capital

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating reissued by D. Boral Capital in a research report issued on Friday,Benzinga reports. They presently have a $11.00 price target on the stock. D. Boral Capital’s price target indicates a potential upside of 433.98% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. D Boral Capital raised shares of New Horizon Aircraft to a “strong-buy” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of New Horizon Aircraft in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

New Horizon Aircraft Stock Performance

HOVR opened at $2.06 on Friday. The firm’s fifty day moving average is $1.84 and its two-hundred day moving average is $1.98. The firm has a market cap of $91.16 million, a PE ratio of -2.82 and a beta of 2.99. New Horizon Aircraft has a twelve month low of $0.35 and a twelve month high of $4.18.

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

Institutional Investors Weigh In On New Horizon Aircraft

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

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.