Short Interest in New Horizon Aircraft Ltd. (NASDAQ:HOVR) Increases By 16.4%

New Horizon Aircraft Ltd. (NASDAQ:HOVRGet Free Report) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 902,300 shares, an increase of 16.4% from the December 15th total of 774,900 shares. Currently, 6.6% of the shares of the stock are sold short. Based on an average daily volume of 4,580,000 shares, the short-interest ratio is presently 0.2 days.

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 acquired a new position in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVRFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned 0.11% of New Horizon Aircraft at the end of the most recent quarter. 65.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOVR has been the subject of a number of recent research reports. EF Hutton Acquisition Co. I upgraded New Horizon Aircraft to a “strong-buy” rating in a research report on Monday, October 7th. D. Boral Capital restated a “buy” rating and set a $2.00 target price on shares of New Horizon Aircraft in a research report on Wednesday.

View Our Latest Stock Report on HOVR

New Horizon Aircraft Stock Down 0.4 %

Shares of NASDAQ:HOVR traded down $0.00 during trading on Friday, hitting $0.90. 586,597 shares of the company’s stock were exchanged, compared to its average volume of 3,443,170. New Horizon Aircraft has a 1-year low of $0.24 and a 1-year high of $3.29. The firm has a 50-day moving average price of $0.75 and a two-hundred day moving average price of $0.64.

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

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 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.

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