New Horizon Aircraft (NASDAQ:HOVR) Given “Buy” Rating at D. Boral Capital

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating restated by D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $2.00 target price on the stock. D. Boral Capital’s price target points to a potential upside of 122.22% from the company’s previous close.

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

New Horizon Aircraft Price Performance

HOVR stock opened at $0.90 on Wednesday. The company’s 50 day moving average price is $0.74 and its two-hundred day moving average price is $0.64. New Horizon Aircraft has a one year low of $0.24 and a one year high of $3.29.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Capital Investment Advisors LLC acquired a new position in New Horizon Aircraft Ltd. (NASDAQ:HOVR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned 0.11% of New Horizon Aircraft as of its most recent filing with the Securities and Exchange Commission. 65.97% of the stock is 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.