Virtu Financial LLC Buys New Shares in New Horizon Aircraft Ltd. (NASDAQ:HOVR)

Virtu Financial LLC purchased a new stake in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 41,761 shares of the company’s stock, valued at approximately $47,000.

Separately, Capital Investment Advisors LLC acquired a new stake in shares of New Horizon Aircraft during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 65.97% of the company’s stock.

New Horizon Aircraft Trading Down 3.5 %

HOVR stock opened at $0.50 on Wednesday. New Horizon Aircraft Ltd. has a 1-year low of $0.24 and a 1-year high of $2.60. The business’s 50-day moving average price is $0.57 and its two-hundred day moving average price is $0.59.

New Horizon Aircraft (NASDAQ:HOVR) last released its quarterly earnings results on Tuesday, January 14th. The company reported $0.80 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $2.00 price target on shares of New Horizon Aircraft in a research note on Wednesday, January 15th.

Insiders Place Their Bets

In other New Horizon Aircraft news, major shareholder Dustin M. Shindo sold 65,500 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $0.49, for a total transaction of $32,095.00. Following the sale, the insider now directly owns 1,308,793 shares of the company’s stock, valued at approximately $641,308.57. This represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 167,870 shares of company stock valued at $84,953 in the last three months. 11.10% of the stock is currently owned by corporate insiders.

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.