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

by · The Cerbat Gem

New Horizon Aircraft Ltd. (NASDAQ:HOVR – Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 774,900 shares, an increase of 13.0% from the November 30th total of 685,700 shares. Based on an average trading volume of 4,070,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 5.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HOVR shares. EF Hutton Acquisition Co. I raised shares of New Horizon Aircraft to a “strong-buy” rating in a report on Monday, October 7th. D. Boral Capital reiterated a “buy” rating and set a $2.00 target price on shares of New Horizon Aircraft in a research note on Monday.

View Our Latest Analysis on HOVR

New Horizon Aircraft Trading Down 11.0 %

Shares of New Horizon Aircraft stock traded down $0.14 during trading hours on Wednesday, reaching $1.13. 3,193,142 shares of the stock traded hands, compared to its average volume of 1,588,678. New Horizon Aircraft has a one year low of $0.24 and a one year high of $12.14. The company has a 50 day moving average price of $0.57 and a 200 day moving average price of $0.61.

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

About New Horizon Aircraft

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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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