D. Boral Capital Reaffirms Buy Rating for New Horizon Aircraft (NASDAQ:HOVR)

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating reaffirmed by equities research analysts at D. Boral Capital in a research report issued on Monday,Benzinga reports. They currently have a $2.00 price objective on the stock. D. Boral Capital’s price target suggests a potential upside of 346.83% from the company’s current price.

New Horizon Aircraft Stock Performance

NASDAQ HOVR opened at $0.45 on Monday. The company’s fifty day moving average is $0.50 and its two-hundred day moving average is $0.58. New Horizon Aircraft has a 52-week low of $0.24 and a 52-week high of $2.50.

New Horizon Aircraft (NASDAQ:HOVR) last issued its quarterly earnings results on Monday, April 14th. The company reported ($0.17) earnings per share (EPS) for the quarter.

Insider Activity

In other New Horizon Aircraft news, major shareholder Dustin M. Shindo sold 65,500 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $0.49, for a total transaction of $32,095.00. Following the completion of the transaction, the insider now owns 1,308,793 shares in the company, valued at $641,308.57. This trade represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 167,870 shares of company stock worth $84,953. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New Horizon Aircraft

An institutional investor recently bought a new position in New Horizon Aircraft stock. Capital Investment Advisors LLC purchased a new stake in New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned 0.11% of New Horizon Aircraft at the end of the most recent reporting period. 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.