New Horizon Aircraft (NASDAQ:HOVR) Posts Earnings Results

New Horizon Aircraft (NASDAQ:HOVR) issued its quarterly earnings results on Tuesday. The company reported $0.80 earnings per share (EPS) for the quarter, Zacks reports.

New Horizon Aircraft Stock Performance

NASDAQ:HOVR traded up $0.01 during mid-day trading on Tuesday, hitting $0.87. 257,192 shares of the stock traded hands, compared to its average volume of 1,736,916. The firm’s 50 day moving average is $0.71 and its two-hundred day moving average is $0.63. New Horizon Aircraft has a 52 week low of $0.24 and a 52 week high of $4.03.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. EF Hutton Acquisition Co. I raised shares of New Horizon Aircraft to a “strong-buy” rating in a research report on Monday, October 7th. D. Boral Capital restated a “buy” rating and set a $2.00 target price on shares of New Horizon Aircraft in a research note on Wednesday, January 8th.

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.