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

New Horizon Aircraft Ltd. (NASDAQ:HOVR)’s stock price fell 2.1% during trading on Friday . The company traded as low as $0.27 and last traded at $0.28. 151,526 shares were traded 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.

Wall Street Analyst Weigh In

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 company has a 50-day moving average price of $0.55 and a two-hundred day moving average price of $0.88.

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

Insider Activity at New Horizon Aircraft

In other news, major shareholder Dustin M. Shindo sold 102,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 1,537,563 shares of the company’s stock, valued at approximately $1,260,801.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 133,000 shares of company stock worth $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.