New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Update

New Horizon Aircraft Ltd. (NASDAQ:HOVR) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 385,000 shares, a growth of 18.5% from the February 13th total of 324,800 shares. Based on an average trading volume of 1,530,000 shares, the short-interest ratio is presently 0.3 days. Currently, 1.7% of the company’s shares are short sold.

Insider Buying and Selling

In other news, major shareholder Dustin M. Shindo sold 65,500 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $0.49, for a total transaction of $32,095.00. Following the completion of the transaction, the insider now directly owns 1,308,793 shares in the company, valued at $641,308.57. This trade represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 167,870 shares of company stock worth $84,953. Company insiders own 11.10% of the company’s stock.

Institutional Trading of New Horizon Aircraft

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Capital Investment Advisors LLC acquired a new stake in New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned approximately 0.11% of New Horizon Aircraft at the end of the most recent quarter. Institutional investors own 65.97% of the company’s stock.

New Horizon Aircraft Stock Performance

HOVR opened at $0.52 on Wednesday. New Horizon Aircraft has a 52 week low of $0.24 and a 52 week high of $2.99. The business has a fifty day simple moving average of $0.64 and a 200-day simple moving average of $0.61.

New Horizon Aircraft (NASDAQ:HOVR) last released its quarterly earnings results on Tuesday, January 14th. The company reported $0.80 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital restated a “buy” rating and set a $2.00 price target on shares of New Horizon Aircraft in a research report on Wednesday, January 15th.

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.