Zacks Research Has Bullish Estimate for HOVR FY2027 Earnings

New Horizon Aircraft Ltd. (NASDAQ:HOVR) – Research analysts at Zacks Research upped their FY2027 EPS estimates for shares of New Horizon Aircraft in a report released on Monday, October 12th. Zacks Research analyst B. Lantier now forecasts that the company will post earnings per share of ($0.32) for the year, up from their previous estimate of ($0.34). The consensus estimate for New Horizon Aircraft’s current full-year earnings is ($0.34) per share. Zacks Research also issued estimates for New Horizon Aircraft’s FY2028 earnings at ($0.41) EPS.

New Horizon Aircraft (NASDAQ:HOVR) last issued its quarterly earnings results on Friday, October 9th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04.

HOVR has been the subject of a number of other research reports. Wall Street Zen raised shares of New Horizon Aircraft from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings upgraded shares of New Horizon Aircraft from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, New Horizon Aircraft currently has an average rating of “Hold” and a consensus target price of $14.50.

New Horizon Aircraft Price Performance

HOVR opened at $1.46 on Wednesday. The firm has a 50 day simple moving average of $1.74 and a 200 day simple moving average of $1.91. New Horizon Aircraft has a fifty-two week low of $1.16 and a fifty-two week high of $4.18.

Institutional Trading of New Horizon Aircraft

Institutional investors and hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC grew its holdings in New Horizon Aircraft by 28.9% during the second quarter. Citadel Advisors LLC now owns 492,865 shares of the company’s stock valued at $971,000 after purchasing an additional 110,474 shares during the period. Bank of America Corp DE acquired a new position in shares of New Horizon Aircraft in the 2nd quarter valued at $32,000. GSA Capital Partners LLP bought a new stake in shares of New Horizon Aircraft in the 2nd quarter valued at $98,000. Central Pacific Bank Trust Division bought a new stake in shares of New Horizon Aircraft in the 2nd quarter valued at $47,000. Finally, Gabelli Funds LLC raised its stake in New Horizon Aircraft by 72.9% during the 1st quarter. Gabelli Funds LLC now owns 25,306 shares of the company’s stock worth $36,000 after buying an additional 10,673 shares during the period. 65.97% of the stock is owned by institutional investors.

New Horizon Aircraft Company Profile

New Horizon Aircraft Ltd. is an aerospace company developing hybrid-electric vertical takeoff and landing (eVTOL) aircraft for the emerging advanced air mobility market. The company is focused on aircraft that can operate from runways while also performing vertical takeoffs and landings, with the goal of combining the flexibility of helicopters with the efficiency and speed of fixed-wing aircraft.

Its primary product is the Cavorite X5, a five-seat eVTOL aircraft under development. The aircraft incorporates a fan-in-wing design intended to enable vertical flight and transition to efficient forward flight.