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

D. Boral Capital reiterated their buy rating on shares of New Horizon Aircraft (NASDAQ:HOVR) in a report released on Wednesday morning,Benzinga reports. They currently have a $2.00 price objective on the stock.

Separately, EF Hutton Acquisition Co. I upgraded shares of New Horizon Aircraft to a “strong-buy” rating in a report on Monday, October 7th.

New Horizon Aircraft Price Performance

HOVR opened at $0.90 on Wednesday. The stock’s 50-day moving average price is $0.75 and its 200 day moving average price is $0.64. New Horizon Aircraft has a 12-month low of $0.24 and a 12-month high of $3.29.

New Horizon Aircraft (NASDAQ:HOVR) last issued its quarterly earnings results on Tuesday, January 14th. The company reported $0.80 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On New Horizon Aircraft

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Capital Investment Advisors LLC acquired a new position in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned approximately 0.11% of New Horizon Aircraft as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 65.97% of the company’s stock.

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.