Short Interest in New Horizon Aircraft Ltd. (NASDAQ:HOVR) Drops By 62.2%

by · The Cerbat Gem

New Horizon Aircraft Ltd. (NASDAQ:HOVR – Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 127,000 shares, a drop of 62.2% from the September 15th total of 335,800 shares. Based on an average trading volume of 881,500 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.9% of the shares of the company are short sold.

Insider Buying and Selling

In other news, major shareholder Dustin M. Shindo sold 102,000 shares of the firm’s stock in a transaction 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 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 133,000 shares of company stock worth $107,300.

New Horizon Aircraft Stock Up 7.6 %

Shares of NASDAQ HOVR opened at $0.31 on Friday. The business’s fifty day moving average price is $0.69 and its 200-day moving average price is $1.12. New Horizon Aircraft has a one year low of $0.24 and a one year high of $12.14.

Analysts Set New Price Targets

Separately, EF Hutton Acquisition Co. I upgraded shares of New Horizon Aircraft to a “strong-buy” rating in a research note on Monday.

Get Our Latest Stock Report on HOVR

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. It is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically.

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