New Horizon Aircraft’s (HOVR) “Buy” Rating Reaffirmed at D. Boral Capital

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating reiterated by investment analysts at D. Boral Capital in a report issued on Thursday,Benzinga reports. They currently have a $11.00 price objective on the stock.

Several other research analysts have also recently commented on HOVR. Weiss Ratings cut New Horizon Aircraft from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Saturday, October 25th. D Boral Capital raised shares of New Horizon Aircraft to a “strong-buy” rating in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, New Horizon Aircraft currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

New Horizon Aircraft Stock Up 4.8%

Shares of HOVR stock traded up $0.08 during mid-day trading on Thursday, reaching $1.78. The stock had a trading volume of 656,961 shares, compared to its average volume of 1,130,203. New Horizon Aircraft has a one year low of $0.35 and a one year high of $4.18. The firm has a market cap of $72.97 million, a PE ratio of 15.20 and a beta of 2.94. The firm’s 50 day simple moving average is $2.33 and its 200 day simple moving average is $1.84.

Insider Activity

In other New Horizon Aircraft news, CEO Brian Frederick Merker sold 46,000 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $4.00, for a total value of $184,000.00. Following the transaction, the chief executive officer directly owned 265,286 shares in the company, valued at $1,061,144. The trade was a 14.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric Brandon Robinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $3.42, for a total transaction of $342,000.00. Following the sale, the chief executive officer directly owned 1,372,510 shares of the company’s stock, valued at approximately $4,693,984.20. The trade was a 6.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 286,000 shares of company stock worth $1,063,600. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On New Horizon Aircraft

A number of large investors have recently bought and sold shares of HOVR. Rockefeller Capital Management L.P. acquired a new stake in New Horizon Aircraft during the 2nd quarter valued at $602,000. Virtu Financial LLC bought a new stake in shares of New Horizon Aircraft during the third quarter worth $244,000. Marshall Wace LLP acquired a new stake in shares of New Horizon Aircraft in the second quarter valued at $38,000. Gabelli Funds LLC bought a new position in shares of New Horizon Aircraft in the third quarter valued at about $51,000. Finally, Bank of America Corp DE acquired a new position in New Horizon Aircraft during the 2nd quarter worth about $27,000. 65.97% of the stock is currently owned by institutional investors.

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.