New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Up 16.4% in December

New Horizon Aircraft Ltd. (NASDAQ:HOVR) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 902,300 shares, a growth of 16.4% from the December 15th total of 774,900 shares. Currently, 6.6% of the company’s shares are sold short. Based on an average trading volume of 4,580,000 shares, the short-interest ratio is presently 0.2 days.

New Horizon Aircraft Stock Down 0.4 %

NASDAQ HOVR traded down $0.00 during trading on Friday, reaching $0.90. 586,597 shares of the stock traded hands, compared to its average volume of 3,443,170. New Horizon Aircraft has a fifty-two week low of $0.24 and a fifty-two week high of $3.29. The stock’s 50-day moving average price is $0.75 and its 200 day moving average price is $0.64.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. D. Boral Capital reaffirmed a “buy” rating and set a $2.00 price objective on shares of New Horizon Aircraft in a research note on Wednesday. EF Hutton Acquisition Co. I upgraded New Horizon Aircraft to a “strong-buy” rating in a report on Monday, October 7th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in New Horizon Aircraft stock. Capital Investment Advisors LLC acquired a new stake in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned approximately 0.11% of New Horizon Aircraft at the end of the most recent reporting period. 65.97% of the stock is owned by institutional investors.

About New Horizon Aircraft

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.