New Horizon Aircraft Ltd. (HOVR)
NASDAQ:HOVR
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New Horizon Aircraft
(NASDAQ:HOVR)
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Rating:52Neutral
Price Target:
$2.50
▲(36.61% Upside)
Action:Reiterated
Date:06/02/26
The score is held down primarily by weak financial performance (no revenue, widening losses, and sustained cash burn). Offsetting factors are improved balance sheet support and liquidity from recent capital raises, plus constructive technical momentum with the stock trading above key moving averages.
Positive Factors
Recent capital raises boost runway
Two registered direct offerings in May 2026 (about $20M and $25M) materially increase cash resources, providing a clearer runway to complete the Cavorite X7 prototype and advance testing and certification. That funding reduces immediate execution risk and gives management time to hit milestones before needing further capital.
Negative Factors
Pre-revenue with large operating losses
The company remains pre-revenue while incurring sizable and widening operating losses, reflecting that major value creation depends on future certification and sales. Without commercial revenues, profitability is uncertain and outcomes hinge on technical success, certification timelines and market adoption, raising execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recent capital raises boost runway
Two registered direct offerings in May 2026 (about $20M and $25M) materially increase cash resources, providing a clearer runway to complete the Cavorite X7 prototype and advance testing and certification. That funding reduces immediate execution risk and gives management time to hit milestones before needing further capital.
Read all positive factors
New Horizon Aircraft (HOVR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$105.33M
Dividend YieldN/A
Average Volume (3M)3.53M
Price to Earnings (P/E)―
Beta (1Y)1.46
Revenue GrowthN/A
EPS Growth-299.00%
CountryUS
Employees20
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.93
Shares Outstanding46,604,280
10 Day Avg. Volume5,532,785
30 Day Avg. Volume3,530,117
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)10.59
Price to Sales (P/S)0.00
P/FCF Ratio-2.90
Enterprise Value/Market Cap1.48
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-2.73K
Enterprise Value/Ebitda-6.18
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.77
Revenue Forecast (FY)$1.33M
New Horizon Aircraft Business Overview & Revenue Model
Company Description
New Horizon Aircraft Ltd., an aerospace engineering company, focuses on designing and developing the hybrid electric vertical takeoff and landing (eVTOL) aircraft for the regional air mobility market primarily in the United States. It is developin...
How the Company Makes Money
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New Horizon Aircraft Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | May 2025 | May 2024 | May 2023 | May 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -57.08K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -25.22M | -13.45M | -4.57M | -1.44M | -1.76M |
| Net Income | -26.93M | 5.20M | -8.16M | -1.25M | -1.65M |
Balance Sheet | |||||
| Total Assets | 29.91M | 11.54M | 4.94M | 1.41M | 1.16M |
| Cash, Cash Equivalents and Short-Term Investments | 26.86M | 10.36M | 1.82M | 227.97K | 4.32K |
| Total Debt | 19.11K | 41.16K | 74.00K | 1.60M | 2.25M |
| Total Liabilities | 10.62M | 7.99M | 22.88M | 1.83M | 2.44M |
| Stockholders Equity | 19.29M | 3.55M | -17.93M | -413.49K | -1.28M |
Cash Flow | |||||
| Free Cash Flow | -18.63M | -12.97M | -3.52M | -1.09M | -1.75M |
| Operating Cash Flow | -17.67M | -12.78M | -3.31M | -1.01M | -1.62M |
| Investing Cash Flow | -960.04K | -194.85K | -209.00K | -77.21K | -130.57K |
| Financing Cash Flow | 30.67M | 20.84M | 5.11M | 1.31M | 1.60M |
New Horizon Aircraft Risk Analysis
New Horizon Aircraft disclosed 60 risk factors in its most recent earnings report. New Horizon Aircraft reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
New Horizon Aircraft Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
53 Neutral | $4.35B | -5.92 | -38.99% | ― | ― | 11.41% | |
52 Neutral | $105.33M | -3.93 | -301.90% | ― | ― | -299.00% | |
51 Neutral | $712.48M | 16.17 | 16.15% | ― | 70.87% | ― | |
50 Neutral | $653.87M | -7.84 | -26.96% | ― | 12.35% | 32.54% | |
47 Neutral | $996.15M | -4.08 | -258.98% | ― | ― | -33.98% | |
43 Neutral | $276.30M | -0.65 | 251.21% | ― | ― | ― |
* Industrials Sector Average
HOVR
New Horizon Aircraft
2.26
1.17
107.34%
EH
Ehang Holdings
8.71
-8.32
-48.85%
EVTL
Vertical Aerospace
2.17
-4.03
-65.00%
EVEX
Eve Holding
2.86
-2.79
-49.38%
SKYH
Sky Harbour Group
9.31
-1.00
-9.70%
ACHR
Archer Aviation
5.73
-5.53
-49.11%
New Horizon Aircraft Corporate Events
Business Operations and StrategyPrivate Placements and Financing
New Horizon Raises $25M to Advance Cavorite X7 Program
Positive
May 28, 2026
On May 27, 2026, New Horizon Aircraft announced it had closed a registered direct offering of 9,960,160 Class A ordinary shares and equivalents, raising approximately $25 million in gross proceeds from the same institutional investors that partici...
Business Operations and StrategyPrivate Placements and Financing
New Horizon Aircraft Announces $25 Million Direct Offering
Positive
May 27, 2026
On May 26, 2026, New Horizon Aircraft Ltd. entered into securities purchase agreements with institutional investors for a registered direct offering of 5,385,646 Class A shares and pre‑funded warrants for a further 4,574,514 shares, priced a...
Business Operations and StrategyPrivate Placements and Financing
New Horizon Raises $20 Million to Advance VTOL Program
Positive
May 11, 2026
On May 11, 2026, New Horizon Aircraft closed a previously announced registered direct offering of 9,254,889 Class A common shares, raising approximately $20 million in gross proceeds from institutional investors. Titan Partners, a division of Amer...
Business Operations and StrategyPrivate Placements and Financing
New Horizon Announces $20 Million Registered Direct Offering
Positive
May 8, 2026
On May 6, 2026, New Horizon Aircraft Ltd. entered into agreements with institutional investors for a registered direct offering of 9,254,889 Class A ordinary shares at $2.15 per share, raising about $19.9–$20 million in gross proceeds, with ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.