New Horizon Aircraft (NASDAQ:HOVR) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of New Horizon Aircraft (NASDAQ:HOVR - Free Report) to a sell rating in a research report released on Saturday.

Separately, D. Boral Capital reaffirmed a "buy" rating and set a $2.00 price target on shares of New Horizon Aircraft in a report on Friday, May 16th.

New Horizon Aircraft Stock Performance

Shares of HOVR traded down $0.08 on Friday, reaching $1.76. The company's stock had a trading volume of 1,898,784 shares, compared to its average volume of 1,767,719. The stock's 50 day simple moving average is $0.73 and its two-hundred day simple moving average is $0.70. New Horizon Aircraft has a 12-month low of $0.24 and a 12-month high of $2.32.

New Horizon Aircraft (NASDAQ:HOVR - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The company reported ($0.17) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On New Horizon Aircraft

An institutional investor recently bought a new position in New Horizon Aircraft stock. Virtu Financial LLC purchased a new stake in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 41,761 shares of the company's stock, valued at approximately $47,000. Virtu Financial LLC owned approximately 0.13% of New Horizon Aircraft at the end of the most recent reporting period. Institutional investors and hedge funds own 65.97% of the company's stock.

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.