New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Up 644.7% in November

Posted by Scott Moore on Nov 27th, 2024

New Horizon Aircraft Ltd. (NASDAQ:HOVR – Get Free Report) saw a large increase in short interest in 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 daily volume of 3,100,000 shares, the short-interest ratio is currently 0.3 days. Approximately 4.9% of the company’s shares are short sold.

New Horizon Aircraft Stock Performance

HOVR stock traded down $0.04 on Wednesday, hitting $0.49. 1,078,007 shares of the company were exchanged, compared to its average volume of 1,276,789. New Horizon Aircraft has a twelve month low of $0.24 and a twelve month high of $12.14. The business’s fifty day moving average is $0.39 and its two-hundred day moving average is $0.66.

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

Analyst Ratings Changes

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

Check Out Our Latest Report on New Horizon Aircraft

Insider Buying and Selling at New Horizon Aircraft

In other news, major shareholder Dustin M. Shindo sold 102,000 shares of New Horizon Aircraft stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $0.82, for a total value of $83,640.00. Following the completion of the sale, the insider now owns 1,537,563 shares of the company’s stock, valued at $1,260,801.66. The trade was a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 133,000 shares of company stock worth $107,300.

About New Horizon Aircraft

(Get Free Report)

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.