New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Up 644.7% in November

New Horizon Aircraft Ltd. (NASDAQ:HOVR) was the target of a significant growth in short interest in 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. Currently, 4.9% of the shares of the stock are short sold. Based on an average daily volume of 3,100,000 shares, the short-interest ratio is currently 0.3 days.

Insider Transactions at New Horizon Aircraft

In other news, major shareholder Dustin M. Shindo sold 102,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $0.82, for a total value of $83,640.00. Following the transaction, the insider now owns 1,537,563 shares in the company, valued at $1,260,801.66. This trade represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 133,000 shares of company stock valued at $107,300 over the last 90 days.

New Horizon Aircraft Price Performance

NASDAQ:HOVR opened at $0.49 on Thursday. New Horizon Aircraft has a twelve month low of $0.24 and a twelve month high of $12.14. The company’s 50-day moving average price is $0.39 and its 200-day moving average price is $0.66.

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

Wall Street Analysts Forecast Growth

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

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.