New Horizon Aircraft (NASDAQ:HOVR) Now Covered by JonesTrading

Equities research analysts at JonesTrading initiated coverage on shares of New Horizon Aircraft (NASDAQ:HOVR) in a research note issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $18.00 price target on the stock.

Other analysts have also issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of New Horizon Aircraft in a research note on Thursday, January 22nd. D. Boral Capital reissued a “buy” rating and set a $11.00 target price on shares of New Horizon Aircraft in a report on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.50.

New Horizon Aircraft Price Performance

HOVR stock traded down $0.04 during mid-day trading on Monday, reaching $1.84. The company had a trading volume of 75,341 shares, compared to its average volume of 1,073,877. The company has a market capitalization of $81.33 million, a price-to-earnings ratio of -2.54 and a beta of 2.97. New Horizon Aircraft has a 52 week low of $0.35 and a 52 week high of $4.18. The stock has a 50 day simple moving average of $1.89 and a two-hundred day simple moving average of $2.01.

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

Institutional Trading of New Horizon Aircraft

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in New Horizon Aircraft during the second quarter worth about $27,000. LPL Financial LLC bought a new stake in shares of New Horizon Aircraft during the 4th quarter worth approximately $35,000. Scientech Research LLC acquired a new stake in shares of New Horizon Aircraft during the 3rd quarter worth approximately $35,000. Marshall Wace LLP bought a new position in New Horizon Aircraft in the second quarter valued at approximately $38,000. Finally, Gabelli Funds LLC bought a new position in New Horizon Aircraft in the third quarter valued at approximately $51,000. 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. New Horizon Aircraft Ltd. was founded in 2013 and is headquartered in Lindsay, Canada.