New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Update

New Horizon Aircraft Ltd. (NASDAQ:HOVR) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 385,000 shares, an increase of 18.5% from the February 13th total of 324,800 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average trading volume of 1,530,000 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital restated a “buy” rating and set a $2.00 price objective on shares of New Horizon Aircraft in a report on Wednesday, January 15th.

Insider Activity at New Horizon Aircraft

In related news, major shareholder Dustin M. Shindo sold 65,500 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $0.49, for a total transaction of $32,095.00. Following the completion of the transaction, the insider now owns 1,308,793 shares in the company, valued at $641,308.57. The trade was a 4.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 167,870 shares of company stock worth $84,953 in the last quarter. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On New Horizon Aircraft

An institutional investor recently bought a new position in New Horizon Aircraft stock. Virtu Financial LLC bought a new position in New Horizon Aircraft Ltd. (NASDAQ:HOVR) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 41,761 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned 0.13% of New Horizon Aircraft at the end of the most recent quarter. Institutional investors and hedge funds own 65.97% of the company’s stock.

New Horizon Aircraft Trading Up 5.5 %

Shares of HOVR stock opened at $0.59 on Friday. New Horizon Aircraft has a twelve month low of $0.24 and a twelve month high of $2.92. The stock has a fifty day simple moving average of $0.63 and a two-hundred day simple moving average of $0.61.

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

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.