New Horizon Aircraft (NASDAQ:HOVR) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of New Horizon Aircraft (NASDAQ:HOVR) to a sell rating in a research note issued to investors on Saturday.

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

New Horizon Aircraft Stock Performance

New Horizon Aircraft stock opened at $1.84 on Friday. New Horizon Aircraft has a 52-week low of $0.24 and a 52-week high of $2.32. The firm has a 50 day moving average price of $0.70 and a two-hundred day moving average price of $0.69.

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

Institutional Trading of New Horizon Aircraft

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Virtu Financial LLC bought a new position in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,761 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned approximately 0.13% of New Horizon Aircraft as of its most recent SEC filing. Hedge funds and other institutional investors own 65.97% of the company’s stock.

About New Horizon Aircraft

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.