D. Boral Capital Reaffirms Buy Rating for New Horizon Aircraft (NASDAQ:HOVR)

New Horizon Aircraft (NASDAQ:HOVR)‘s stock had its “buy” rating reissued by analysts at D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They currently have a $2.00 target price on the stock. D. Boral Capital’s price objective suggests a potential upside of 96.08% from the company’s current price.

Separately, EF Hutton Acquisition Co. I raised shares of New Horizon Aircraft to a “strong-buy” rating in a research note on Monday, October 7th.

New Horizon Aircraft Trading Down 8.1 %

HOVR traded down $0.09 during trading on Wednesday, reaching $1.02. 2,687,330 shares of the company’s stock were exchanged, compared to its average volume of 2,237,745. The firm has a fifty day moving average price of $0.65 and a two-hundred day moving average price of $0.62. New Horizon Aircraft has a one year low of $0.24 and a one year high of $8.88.

New Horizon Aircraft (NASDAQ:HOVR) last announced its earnings results on Thursday, October 10th. The company reported ($0.11) EPS for the quarter.

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.