New Horizon Aircraft (NASDAQ:HOVR) Releases Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• New Horizon reported ($0.12) EPS, missing estimates by $0.03, yet the stock traded up about 6.7% to $1.67 on the news.
• The company plans to complete the full-scale Cavorite X7 prototype by year-end to enable ground testing and begin flight testing in early 2027, and an independent audit says the X7 could deliver up to 75% lower operating costs (~$0.97 CASM) versus peers.
• Financially, New Horizon finished the quarter with about $20 million in cash and a stated runway of roughly 12–24 months, while R&D and operating expenses rose materially, signaling potential near-term fundraising needs before certification.

New Horizon Aircraft (NASDAQ:HOVR - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03), reports.

Here are the key takeaways from New Horizon Aircraft's conference call:

• Horizon aims to complete its full-scale Cavorite X7 prototype by the end of the year, enabling ground testing and the start of flight testing in early 2027 — a major engineering milestone toward certification and commercialization.
• The company has contracted key suppliers and engineering partners (Rampf Group, North Aircraft Industries, and Mitsubishi Heavy Industries RJ) to support fuselage, wing production, and flight-test instrumentation, strengthening production readiness and test capabilities.
• An independent audit (KPMG) projects the X7 can deliver up to 75% lower operating costs with a reported ~$0.97 cost per available seat mile versus peers' $3–$5 and helicopters' $4–$7, a core commercial differentiator for operators.
• Financially, the company finished the quarter with about $20 million in cash and a stated runway of roughly 12–24 months while R&D and operating spend rose materially (Q3 Opex $7.6M; YTD $19M), indicating potential future fundraising needs before full certification.

New Horizon Aircraft Stock Up 6.7%

NASDAQ:HOVR traded up $0.11 during mid-day trading on Wednesday, hitting $1.67. 66,558 shares of the stock traded hands, compared to its average volume of 861,071. The stock has a market capitalization of $73.68 million, a price-to-earnings ratio of -2.28 and a beta of 3.14. New Horizon Aircraft has a 52 week low of $0.40 and a 52 week high of $4.18. The firm's 50 day moving average is $1.73 and its two-hundred day moving average is $1.98.

Hedge Funds Weigh In On New Horizon Aircraft

Several hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in New Horizon Aircraft during the 4th quarter valued at about $96,000. Marshall Wace LLP purchased a new stake in shares of New Horizon Aircraft in the 4th quarter worth approximately $63,000. Renaissance Technologies LLC lifted its position in shares of New Horizon Aircraft by 15.0% in the 4th quarter. Renaissance Technologies LLC now owns 695,100 shares of the company's stock worth $1,022,000 after purchasing an additional 90,500 shares during the period. LPL Financial LLC purchased a new stake in shares of New Horizon Aircraft in the 4th quarter worth approximately $35,000. Finally, Scientech Research LLC purchased a new stake in New Horizon Aircraft during the third quarter valued at approximately $35,000. 65.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on HOVR. JonesTrading began coverage on shares of New Horizon Aircraft in a report on Monday, February 23rd. They issued a "buy" rating and a $18.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of New Horizon Aircraft in a report on Thursday, January 22nd. Finally, D. Boral Capital restated a "buy" rating and issued a $11.00 target price on shares of New Horizon Aircraft in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.50.

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.

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