New Horizon Aircraft Ltd. (NASDAQ:HOVR) Sees Significant Decline in Short Interest

New Horizon Aircraft Ltd. (NASDAQ:HOVR) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 400,100 shares, a decline of 11.0% from the July 31st total of 449,800 shares. Based on an average trading volume of 1,220,000 shares, the short-interest ratio is currently 0.3 days. Currently, 4.2% of the shares of the company are short sold.

New Horizon Aircraft Price Performance

Shares of New Horizon Aircraft stock traded down $0.08 on Tuesday, hitting $0.91. The stock had a trading volume of 100,431 shares, compared to its average volume of 544,508. New Horizon Aircraft has a twelve month low of $0.46 and a twelve month high of $12.14. The business’s 50 day moving average is $0.69 and its two-hundred day moving average is $1.41.

About New Horizon Aircraft

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.