Dustin M. Shindo Sells 65,500 Shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR) Stock

New Horizon Aircraft Ltd. (NASDAQ:HOVR) major shareholder Dustin M. Shindo sold 65,500 shares of the company’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 transaction, the insider now owns 1,308,793 shares of the company’s stock, valued at $641,308.57. This represents a 4.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

New Horizon Aircraft Stock Performance

NASDAQ:HOVR opened at $0.51 on Friday. The company has a fifty day moving average of $0.78 and a two-hundred day moving average of $0.64. New Horizon Aircraft Ltd. has a fifty-two week low of $0.24 and a fifty-two week high of $3.29.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On New Horizon Aircraft

An institutional investor recently bought a new position in New Horizon Aircraft stock. Capital Investment Advisors LLC bought a new stake in New Horizon Aircraft Ltd. (NASDAQ:HOVR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned about 0.11% of New Horizon Aircraft as of its most recent SEC filing. 65.97% of the stock is currently owned by hedge funds and other institutional investors.

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.