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

Posted by Nicole Kennedy on Nov 27th, 2024

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

Insider Activity

In related news, major shareholder Dustin M. Shindo sold 102,000 shares of the company’s stock in a transaction dated 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 directly owns 1,537,563 shares of the company’s stock, valued at $1,260,801.66. This represents a 6.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 133,000 shares of company stock worth $107,300.

New Horizon Aircraft Stock Down 7.1 %

New Horizon Aircraft stock traded down $0.04 during trading hours on Wednesday, reaching $0.49. 1,078,007 shares of the stock were exchanged, compared to its average volume of 1,276,789. New Horizon Aircraft has a 52-week low of $0.24 and a 52-week high of $12.14. The firm’s 50 day moving average is $0.39 and its 200 day moving average is $0.66.

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

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Analysis on New Horizon Aircraft

New Horizon Aircraft Company Profile

(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.