What is Zacks Research's Forecast for HOVR FY2027 Earnings?

Key Points

• Zacks Research raised its FY2027 earnings forecast for New Horizon Aircraft to a loss of $0.32 per share, from a prior estimate of $0.34, versus the $0.34 consensus estimate. The firm projects a FY2028 loss of $0.41 per share.
• Analyst sentiment remains mixed, with two Buy ratings and one Sell rating producing an overall Hold consensus and a $14.50 target price.
• New Horizon Aircraft recently reported a quarterly loss of $0.05 per share, beating expectations for a $0.09 loss, while the stock opened at $1.46 and remains well below its 52-week high of $4.18.

New Horizon Aircraft Ltd. (NASDAQ:HOVR - Free Report) - Investment analysts at Zacks Research raised their FY2027 earnings estimates for New Horizon Aircraft in a note issued to investors on Monday, October 12th. Zacks Research analyst B. Lantier now forecasts that the company will post earnings of ($0.32) per share for the year, up from their prior forecast of ($0.34). The consensus estimate for New Horizon Aircraft's current full-year earnings is ($0.34) per share. Zacks Research also issued estimates for New Horizon Aircraft's FY2028 earnings at ($0.41) EPS.

A number of other equities research analysts have also commented on the company. Weiss Ratings upgraded New Horizon Aircraft from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded New Horizon Aircraft from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $14.50.

New Horizon Aircraft Trading Down 3.3%

NASDAQ:HOVR opened at $1.46 on Wednesday. New Horizon Aircraft has a 1 year low of $1.16 and a 1 year high of $4.18. The firm has a 50 day moving average of $1.74 and a 200-day moving average of $1.91.

New Horizon Aircraft (NASDAQ:HOVR - Get Free Report) last issued its quarterly earnings data on Friday, October 9th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04.

Institutional Trading of New Horizon Aircraft

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in shares of New Horizon Aircraft in the second quarter valued at approximately $32,000. Gabelli Funds LLC boosted its position in New Horizon Aircraft by 72.9% in the 1st quarter. Gabelli Funds LLC now owns 25,306 shares of the company's stock valued at $36,000 after buying an additional 10,673 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in New Horizon Aircraft in the 2nd quarter valued at $47,000. GSA Capital Partners LLP acquired a new stake in shares of New Horizon Aircraft in the 2nd quarter valued at $98,000. Finally, Citadel Advisors LLC raised its position in shares of New Horizon Aircraft by 28.9% during the second quarter. Citadel Advisors LLC now owns 492,865 shares of the company's stock worth $971,000 after acquiring an additional 110,474 shares during the last quarter. 65.97% of the stock is owned by institutional investors.

About New Horizon Aircraft

New Horizon Aircraft Ltd. is an aerospace company developing hybrid-electric vertical takeoff and landing (eVTOL) aircraft for the emerging advanced air mobility market. The company is focused on aircraft that can operate from runways while also performing vertical takeoffs and landings, with the goal of combining the flexibility of helicopters with the efficiency and speed of fixed-wing aircraft.

Its primary product is the Cavorite X5, a five-seat eVTOL aircraft under development. The aircraft incorporates a fan-in-wing design intended to enable vertical flight and transition to efficient forward flight.

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