New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Down 7.9% in October

New Horizon Aircraft Ltd. (NASDAQ:HOVR) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 112,900 shares, a decline of 7.9% from the October 15th total of 122,600 shares. Based on an average daily trading volume, of 2,700,000 shares, the short-interest ratio is currently 0.0 days. Approximately 0.8% of the company’s stock are sold short.

Insider Activity

In related news, major shareholder Dustin M. Shindo sold 102,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $0.82, for a total transaction of $83,640.00. Following the sale, the insider now owns 1,537,563 shares of the company’s stock, valued at $1,260,801.66. The trade was a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 133,000 shares of company stock worth $107,300.

New Horizon Aircraft Stock Down 19.0 %

Shares of HOVR traded down $0.09 during mid-day trading on Monday, hitting $0.37. 1,588,969 shares of the company traded hands, compared to its average volume of 1,259,174. The stock has a 50-day moving average price of $0.43 and a two-hundred day moving average price of $0.74. New Horizon Aircraft has a 1 year low of $0.24 and a 1 year high of $12.14.

New Horizon Aircraft (NASDAQ:HOVR) last posted its earnings results on Thursday, October 10th. The company reported ($0.11) EPS for the quarter.

Analyst Ratings Changes

Separately, EF Hutton Acquisition Co. I upgraded New Horizon Aircraft to a “strong-buy” rating in a research note on Monday, October 7th.

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.