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

New Horizon Aircraft Ltd. (NASDAQ:HOVR) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 840,800 shares, a growth of 644.7% from the October 31st total of 112,900 shares. Approximately 4.9% of the company’s shares are short sold. Based on an average daily volume of 3,100,000 shares, the days-to-cover ratio is currently 0.3 days.

New Horizon Aircraft Stock Performance

NASDAQ:HOVR opened at $0.49 on Thursday. New Horizon Aircraft has a 52 week low of $0.24 and a 52 week high of $12.14. The stock’s fifty day moving average is $0.39 and its two-hundred day moving average is $0.66.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at New Horizon Aircraft

In other New Horizon Aircraft news, major shareholder Dustin M. Shindo sold 102,000 shares of the 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 completion of the transaction, the insider now owns 1,537,563 shares of the company’s stock, valued at $1,260,801.66. This trade represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 133,000 shares of company stock worth $107,300 over the last quarter.

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.