New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Up 13.0% in December

New Horizon Aircraft Ltd. (NASDAQ:HOVR) was the recipient of a large growth in short interest in 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 trading volume of 4,070,000 shares, the short-interest ratio is currently 0.2 days. Currently, 5.1% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research analysts have recently commented on HOVR shares. D. Boral Capital restated a “buy” rating and issued a $2.00 target price on shares of New Horizon Aircraft in a research note on Monday. EF Hutton Acquisition Co. I raised New Horizon Aircraft to a “strong-buy” rating in a research report on Monday, October 7th.

New Horizon Aircraft Price Performance

HOVR traded down $0.14 during midday trading on Wednesday, reaching $1.13. The company’s stock had a trading volume of 3,193,142 shares, compared to its average volume of 1,588,678. New Horizon Aircraft has a 1 year low of $0.24 and a 1 year high of $12.14. The stock’s 50-day moving average is $0.57 and its 200-day moving average is $0.61.

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