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

New Horizon Aircraft Ltd. (NASDAQ:HOVR) saw a large drop in short interest in 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 currently 0.1 days. Approximately 0.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

New Horizon Aircraft Trading Up 7.6 %

New Horizon Aircraft stock opened at $0.31 on Friday. New Horizon Aircraft has a 12-month low of $0.24 and a 12-month high of $12.14. The firm’s fifty day moving average is $0.69 and its 200 day moving average is $1.12.

Insider Activity at New Horizon Aircraft

In other New Horizon Aircraft news, major shareholder Dustin M. Shindo sold 102,000 shares of New Horizon Aircraft stock in a transaction dated 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 directly owns 1,537,563 shares of the company’s stock, valued at approximately $1,260,801.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 133,000 shares of company stock valued at $107,300 in the last 90 days.

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