Short Interest in New Horizon Aircraft Ltd. (NASDAQ:HOVR) Grows By 13.0%

New Horizon Aircraft Ltd. (NASDAQ:HOVR) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 774,900 shares, a growth of 13.0% from the November 30th total of 685,700 shares. Based on an average daily volume of 4,070,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 5.1% of the company’s stock are short sold.

Analyst Ratings Changes

HOVR has been the subject of several analyst reports. EF Hutton Acquisition Co. I upgraded New Horizon Aircraft to a “strong-buy” rating in a report on Monday, October 7th. D. Boral Capital restated a “buy” rating and issued a $2.00 price target on shares of New Horizon Aircraft in a research note on Monday.

New Horizon Aircraft Price Performance

NASDAQ HOVR traded down $0.15 during trading on Monday, reaching $1.27. 5,911,818 shares of the company’s stock were exchanged, compared to its average volume of 1,582,114. The business has a 50 day moving average price of $0.55 and a 200-day moving average price of $0.61. New Horizon Aircraft has a fifty-two week low of $0.24 and a fifty-two week high of $12.14.

New Horizon Aircraft (NASDAQ:HOVR) last posted its earnings results on Thursday, October 10th. The company reported ($0.11) earnings per share for the quarter.

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.