Wall Street Zen Upgrades New Horizon Aircraft (NASDAQ:HOVR) to Sell

New Horizon Aircraft (NASDAQ:HOVR) was upgraded by equities research analysts at Wall Street Zen to a “sell” rating in a report issued on Saturday.

Separately, D. Boral Capital restated a “buy” rating and issued a $2.00 price objective on shares of New Horizon Aircraft in a research report on Friday, May 16th.

New Horizon Aircraft Stock Up 36.5%

NASDAQ:HOVR opened at $1.87 on Friday. New Horizon Aircraft has a 12 month low of $0.24 and a 12 month high of $2.32. The company has a 50 day simple moving average of $0.70 and a two-hundred day simple moving average of $0.69.

New Horizon Aircraft (NASDAQ:HOVR) last announced its earnings results on Monday, April 14th. The company reported ($0.17) EPS for the quarter.

Institutional Investors 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) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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.