New Horizon Aircraft Ltd. (NASDAQ:HOVR) COO Jason Michael O'neill Sells 40,000 Shares

Key Points

• Jason Michael O'neill, COO of New Horizon Aircraft Ltd. (NASDAQ:HOVR), sold 40,000 shares at an average price of $1.72, totaling $68,800, reducing his stake by 10.43% to approximately 343,598 shares.
• Rockefeller Capital Management recently acquired 351,859 shares of New Horizon Aircraft, reflecting institutional ownership of 65.97% in the stock.
• Analysts have varying ratings on HOVR, with Wall Street Zen issuing a "sell" rating, while D. Boral Capital set a $2.00 target price and reaffirmed a "buy" rating.

New Horizon Aircraft Ltd. (NASDAQ:HOVR - Get Free Report) COO Jason Michael O'neill sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1.72, for a total transaction of $68,800.00. Following the transaction, the chief operating officer owned 343,598 shares of the company's stock, valued at approximately $590,988.56. This represents a 10.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Jason Michael O'neill also recently made the following trade(s):

• On Monday, June 23rd, Jason Michael O'neill acquired 656 shares of New Horizon Aircraft stock. The shares were purchased at an average price of $2.25 per share, with a total value of $1,476.00.
• On Tuesday, May 20th, Jason Michael O'neill purchased 2,077 shares of New Horizon Aircraft stock. The stock was acquired at an average price of $0.69 per share, with a total value of $1,433.13.

New Horizon Aircraft Stock Down 3.1%

Shares of New Horizon Aircraft stock traded down $0.06 on Tuesday, hitting $1.71. The company had a trading volume of 441,980 shares, compared to its average volume of 1,077,143. New Horizon Aircraft Ltd. has a twelve month low of $0.24 and a twelve month high of $2.52. The stock has a 50-day moving average of $1.60 and a 200-day moving average of $0.93.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Rockefeller Capital Management L.P. purchased a new stake in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 351,859 shares of the company's stock, valued at approximately $602,000. Rockefeller Capital Management L.P. owned about 1.12% of New Horizon Aircraft as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 65.97% of the company's stock.

Wall Street Analyst Weigh In

HOVR has been the subject of several recent analyst reports. Wall Street Zen upgraded New Horizon Aircraft to a "sell" rating in a report on Saturday, June 14th. D. Boral Capital reiterated a "buy" rating and issued a $2.00 price target on shares of New Horizon Aircraft in a report on Wednesday, July 23rd.

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.