New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Update

by · The Markets Daily

New Horizon Aircraft Ltd. (NASDAQ:HOVR – Get Free Report) saw a significant increase in short interest in 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. Approximately 5.1% of the company’s shares are sold short. Based on an average daily volume of 4,070,000 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

Several brokerages have recently issued reports on HOVR. 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 reissued a “buy” rating and issued a $2.00 target price on shares of New Horizon Aircraft in a research note on Monday.

Read Our Latest Stock Analysis on New Horizon Aircraft

New Horizon Aircraft Stock Performance

HOVR stock traded down $0.14 during mid-day trading on Wednesday, hitting $1.13. 3,193,142 shares of the company were exchanged, compared to its average volume of 1,588,678. New Horizon Aircraft has a 1-year low of $0.24 and a 1-year high of $12.14. The firm’s 50 day simple moving average is $0.57 and its 200 day simple moving average is $0.61.

New Horizon Aircraft (NASDAQ:HOVR – Get Free Report) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.11) 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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