New Horizon Aircraft Ltd. (NASDAQ:HOVRW) Sees Large Increase in Short Interest

New Horizon Aircraft Ltd. (NASDAQ:HOVRW) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 163,100 shares, a growth of 23.0% from the September 30th total of 132,600 shares. Based on an average daily trading volume, of 28,500 shares, the days-to-cover ratio is presently 5.7 days.

New Horizon Aircraft Stock Performance

Shares of HOVRW remained flat at $0.01 during mid-day trading on Wednesday. The stock had a trading volume of 226 shares, compared to its average volume of 55,431. The firm’s 50-day moving average price is $0.02 and its 200 day moving average price is $0.03. New Horizon Aircraft has a fifty-two week low of $0.01 and a fifty-two week high of $0.10.

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. It is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically.