New Horizon Aircraft Ltd. (NASDAQ:HOVR) Short Interest Up 13.0% in December

New Horizon Aircraft Ltd. (NASDAQ:HOVR) 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 shares of the company are sold short. Based on an average trading volume of 4,070,000 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

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

New Horizon Aircraft Price Performance

NASDAQ HOVR traded down $0.15 during midday trading on Monday, hitting $1.27. The company had a trading volume of 5,911,818 shares, compared to its average volume of 1,582,114. The firm has a 50-day moving average price of $0.55 and a 200-day moving average price of $0.61. New Horizon Aircraft has a twelve month low of $0.24 and a twelve month high of $12.14.

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