New Horizon Aircraft Ltd. (NASDAQ:HOVR) Major Shareholder Dustin M. Shindo Sells 75,000 Shares of Stock

New Horizon Aircraft Ltd. (NASDAQ:HOVR) major shareholder Dustin M. Shindo sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $0.50, for a total value of $37,500.00. Following the transaction, the insider now directly owns 1,394,368 shares of the company’s stock, valued at approximately $697,184. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

New Horizon Aircraft Trading Up 1.4 %

Shares of HOVR opened at $0.51 on Friday. The business’s fifty day simple moving average is $0.78 and its two-hundred day simple moving average is $0.65. New Horizon Aircraft Ltd. has a 12 month low of $0.24 and a 12 month high of $3.29.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On New Horizon Aircraft

An institutional investor recently bought a new position in New Horizon Aircraft stock. Capital Investment Advisors LLC purchased a new position in New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned about 0.11% of New Horizon Aircraft at the end of the most recent reporting period. 65.97% of the stock is currently owned by institutional investors.

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.