New Horizon Aircraft (NASDAQ:HOVR) Announces Earnings Results
by Doug Wharley · The Cerbat GemNew Horizon Aircraft (NASDAQ:HOVR – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03), reports.
Here are the key takeaways from New Horizon Aircraft’s conference call:
- Horizon aims to complete its full-scale Cavorite X7 prototype by the end of the year, enabling ground testing and the start of flight testing in early 2027 — a major engineering milestone toward certification and commercialization.
- The company has contracted key suppliers and engineering partners (Rampf Group, North Aircraft Industries, and Mitsubishi Heavy Industries RJ) to support fuselage, wing production, and flight-test instrumentation, strengthening production readiness and test capabilities.
- An independent audit (KPMG) projects the X7 can deliver up to 75% lower operating costs with a reported ~$0.97 cost per available seat mile versus peers’ $3–$5 and helicopters’ $4–$7, a core commercial differentiator for operators.
- Financially, the company finished the quarter with about $20 million in cash and a stated runway of roughly 12–24 months while R&D and operating spend rose materially (Q3 Opex $7.6M; YTD $19M), indicating potential future fundraising needs before full certification.
New Horizon Aircraft Price Performance
HOVR stock traded up $0.11 during midday trading on Wednesday, hitting $1.67. 66,558 shares of the stock traded hands, compared to its average volume of 861,071. The firm has a market cap of $73.68 million, a P/E ratio of -2.28 and a beta of 3.14. The stock’s fifty day simple moving average is $1.73 and its 200-day simple moving average is $1.98. New Horizon Aircraft has a 1-year low of $0.40 and a 1-year high of $4.18.
Hedge Funds Weigh In On New Horizon Aircraft
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOVR. Bank of America Corp DE purchased a new position in New Horizon Aircraft during the second quarter valued at $27,000. LPL Financial LLC purchased a new position in New Horizon Aircraft during the fourth quarter valued at $35,000. Scientech Research LLC purchased a new position in New Horizon Aircraft during the third quarter valued at $35,000. Marshall Wace LLP purchased a new position in New Horizon Aircraft during the second quarter valued at $38,000. Finally, Gabelli Funds LLC purchased a new position in shares of New Horizon Aircraft in the third quarter worth about $51,000. 65.97% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. D. Boral Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of New Horizon Aircraft in a research note on Tuesday. JonesTrading assumed coverage on shares of New Horizon Aircraft in a research note on Monday, February 23rd. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of New Horizon Aircraft in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.50.
Read Our Latest Research Report on New Horizon Aircraft
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.