New Horizon Aircraft (NASDAQ:HOVR) Issues Earnings Results

New Horizon Aircraft (NASDAQ:HOVR) posted its earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02, FiscalAI reports.

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

• Horizon ended fiscal 2026 with a record CAD 78.3 million cash balance, up sharply from CAD 7.5 million a year ago, giving it more than 24 months of liquidity to fund development.
• Management said the company is now focused on full-scale Cavorite X7 assembly, with the demonstrator expected by spring 2027 and ground/flight testing to follow.
• The company highlighted progress on key partnerships, including BETA Technologies for flight controls, along with RAMPF, North Aircraft, Marshall Aerospace, Pratt & Whitney Canada, MT-Propeller, and MHI Regional Jet.
• Horizon reiterated that the X7 is designed around hybrid VTOL capabilities with all-weather operations, a 500-mile range, 250 mph max speed, and an estimated operating cost of about CAD 0.97 per passenger seat mile, far below comparable helicopters.
• Management said there is increasing commercial and defense interest, but it is still in discussions rather than formal commitments; it also sees licensing revenue as a potential near- to medium-term monetization path before aircraft sales ramp.

New Horizon Aircraft Stock Down 12.3%

Shares of New Horizon Aircraft stock opened at $1.50 on Friday. The stock has a market cap of $84.57 million, a price-to-earnings ratio of -2.21 and a beta of 3.84. New Horizon Aircraft has a twelve month low of $1.16 and a twelve month high of $4.18. The company’s fifty day moving average is $2.21 and its 200 day moving average is $1.98.

Analyst Upgrades and Downgrades

HOVR has been the subject of a number of research reports. D. Boral Capital reissued a “buy” rating and set a $11.00 target price on shares of New Horizon Aircraft in a report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of New Horizon Aircraft in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, New Horizon Aircraft has a consensus rating of “Hold” and a consensus price target of $14.50.

Hedge Funds Weigh In On New Horizon Aircraft

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in shares of New Horizon Aircraft in the 2nd quarter valued at about $27,000. LPL Financial LLC acquired a new stake in shares of New Horizon Aircraft during the 4th quarter worth approximately $35,000. Scientech Research LLC bought a new stake in shares of New Horizon Aircraft in the 3rd quarter valued at $35,000. Marshall Wace LLP bought a new stake in shares of New Horizon Aircraft in the 2nd quarter valued at $38,000. Finally, Gabelli Funds LLC acquired a new stake in New Horizon Aircraft in the third quarter worth $51,000. 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. New Horizon Aircraft Ltd. was founded in 2013 and is headquartered in Lindsay, Canada.