Zacks Research Brokers Decrease Earnings Estimates for HOVR

Key Points

• Zacks Research cut New Horizon Aircraft's FY2026 EPS estimate to ($0.60) (from ($0.53)) and issued quarterly loss forecasts, with FY2027 now estimated at ($0.55).
• The company recently missed its latest quarter, reporting ($0.12) EPS vs. analysts' ($0.09) consensus, a $0.03 shortfall.
• Analyst views are mixed—two Buys and one Sell yield an average rating of "Hold" and an average price target of $14.50, while the stock trades around $1.83 with a market cap of about $81 million.

New Horizon Aircraft Ltd. (NASDAQ:HOVR - Free Report) - Research analysts at Zacks Research dropped their FY2026 earnings per share (EPS) estimates for New Horizon Aircraft in a research report issued on Wednesday, April 15th. Zacks Research analyst B. Lantier now expects that the company will post earnings per share of ($0.60) for the year, down from their prior forecast of ($0.53). Zacks Research also issued estimates for New Horizon Aircraft's Q4 2026 earnings at ($0.11) EPS, Q1 2027 earnings at ($0.13) EPS, Q2 2027 earnings at ($0.14) EPS, Q3 2027 earnings at ($0.14) EPS and FY2027 earnings at ($0.55) EPS.

New Horizon Aircraft (NASDAQ:HOVR - Get Free Report) last issued its earnings results on Tuesday, April 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.03).

A number of other brokerages have also commented on HOVR. D. Boral Capital reaffirmed a "buy" rating and set a $11.00 target price on shares of New Horizon Aircraft in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of New Horizon Aircraft in a research report on Thursday, January 22nd. Finally, JonesTrading initiated coverage on New Horizon Aircraft in a report on Monday, February 23rd. They issued a "buy" rating and a $18.00 target price for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, New Horizon Aircraft has an average rating of "Hold" and an average price target of $14.50.

New Horizon Aircraft Price Performance

Shares of HOVR opened at $1.83 on Monday. The firm has a market capitalization of $80.98 million, a price-to-earnings ratio of -2.69 and a beta of 3.14. New Horizon Aircraft has a 1-year low of $0.44 and a 1-year high of $4.18. The company has a 50-day moving average of $1.73 and a 200 day moving average of $1.97.

Hedge Funds Weigh In On New Horizon Aircraft

Several institutional investors have recently bought and sold shares of the business. Scientech Research LLC bought a new position in New Horizon Aircraft in the third quarter worth approximately $35,000. Bank of America Corp DE bought a new stake in New Horizon Aircraft during the 2nd quarter valued at $27,000. Gabelli Funds LLC bought a new stake in New Horizon Aircraft during the 3rd quarter valued at $51,000. Marshall Wace LLP purchased a new position in shares of New Horizon Aircraft in the 2nd quarter valued at $38,000. Finally, LPL Financial LLC bought a new position in shares of New Horizon Aircraft in the 4th quarter worth $35,000. 65.97% of the stock is owned by hedge funds and other 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.

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