New Horizon Aircraft Ltd. (NASDAQ:HOVR) Major Shareholder Dustin M. Shindo Sells 65,500 Shares

New Horizon Aircraft Ltd. (NASDAQ:HOVR) major shareholder Dustin M. Shindo sold 65,500 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $0.49, for a total value of $32,095.00. Following the sale, the insider now directly owns 1,308,793 shares in the company, valued at $641,308.57. This trade represents a 4.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

New Horizon Aircraft Price Performance

Shares of HOVR opened at $0.51 on Friday. The stock’s 50-day simple moving average is $0.78 and its 200 day simple moving average is $0.65. New Horizon Aircraft Ltd. has a 52-week low of $0.24 and a 52-week high of $3.29.

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

Institutional Trading of New Horizon Aircraft

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Virtu Financial LLC purchased a new stake in New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 41,761 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned approximately 0.13% of New Horizon Aircraft as of its most recent SEC filing. Institutional investors and hedge funds own 65.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital reissued a “buy” rating and set a $2.00 price objective on shares of New Horizon Aircraft in a report on Wednesday, January 15th.

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.