Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Research Coverage on Small and Micro-Cap Companies

Equity Bottom-Up

<ul><li>Horizon Aircraft (NASDAQ: HOVR) is an early-stage aerospace OEM that is developing a hybrid electric vertical takeoff and landing ("eVTOL") aircraft for the regional air mobility market.</li><li> Horizon Aircraft's recently released 10-K revealed the steady progress the company has made over the past year (roughly doubling its staff) and a recent capital raise has given the company adequate capital to fund operations for at least the next twelve months.</li><li> The market frenzy in the eVTOL space has cooled with most of the stocks in the industry trading 25-50% below their August highs but still well above the Spring 2025 lows.</li></ul>

Horizon Aircraft (NASDAQ: HOVR) is an early-stage aerospace OEM that is developing a hybrid electric vertical takeoff and landing ("eVTOL") aircraft for the regional air mobility market. Horizon Aircraft's recently released 10-K revealed the steady progress the company has made over the past year (roughly doubling its staff) and a recent capital raise has given the company adequate capital to fund operations for at least the next twelve months. The market frenzy in the eVTOL space has cooled with most of the stocks in the industry trading 25-50% below their August highs but still well above the Spring 2025 lows.

HOVR: Continues to make steady progress toward development milestones. Increasing our 12-month valuation target to 2.

New Horizon Aircraft

HOVR: Continues to make steady progress toward development milestones. Increasing our 12-month valuation target to 2.