New Horizon Aircraft Ltd. (NASDAQ:HOVR – Get Free Report) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 840,800 shares, an increase of 644.7% from the October 31st total of 112,900 shares. Based on an average trading volume of 3,100,000 shares, the short-interest ratio is currently 0.3 days. Currently, 4.9% of the shares of the stock are sold short.
Insiders Place Their Bets
In other New Horizon Aircraft news, major shareholder Dustin M. Shindo sold 102,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $0.82, for a total value of $83,640.00. Following the completion of the transaction, the insider now directly owns 1,537,563 shares of the company’s stock, valued at approximately $1,260,801.66. The trade was a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 133,000 shares of company stock valued at $107,300.
Analyst Ratings Changes
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 Up 39.2 %
Shares of HOVR traded up $0.19 on Friday, reaching $0.67. 20,138,200 shares of the company’s stock were exchanged, compared to its average volume of 1,358,172. The business has a 50 day moving average price of $0.38 and a two-hundred day moving average price of $0.66. New Horizon Aircraft has a 12 month low of $0.24 and a 12 month high of $12.14.
New Horizon Aircraft (NASDAQ:HOVR – Get Free Report) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.11) earnings per share (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.
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