New Horizon Aircraft (NASDAQ:HOVR) Stock Price Down 2.1% – Here’s Why

New Horizon Aircraft Ltd. (NASDAQ:HOVR)’s stock price traded down 2.1% during mid-day trading on Friday . The stock traded as low as $0.27 and last traded at $0.28. 151,526 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 594,425 shares. The stock had previously closed at $0.28.

Analyst Ratings Changes

Separately, EF Hutton Acquisition Co. I raised New Horizon Aircraft to a “strong-buy” rating in a research note on Monday, October 7th.

New Horizon Aircraft Trading Down 2.1 %

The firm has a 50-day simple moving average of $0.55 and a 200-day simple moving average of $0.88.

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

Insider Buying and Selling at New Horizon Aircraft

In other New Horizon Aircraft news, major shareholder Dustin M. Shindo sold 102,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $0.82, for a total transaction of $83,640.00. Following the sale, the insider now owns 1,537,563 shares of the company’s stock, valued at approximately $1,260,801.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 133,000 shares of company stock valued at $107,300.

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.