New Horizon Aircraft (HOVR) Projected to Post Earnings on Thursday

Key Points

• New Horizon Aircraft is expected to report earnings on Thursday, August 21st, with analysts anticipating a loss of ($0.08) per share.
• Recent transactions include COO Jason Michael O'neill selling 40,000 shares and CEO Eric Brandon Robinson selling 250,000 shares, reflecting significant decreases in their ownership percentages.
• Marshall Wace LLP has acquired a new stake in New Horizon Aircraft, owning approximately 0.07% of the company as of the latest SEC filing.

New Horizon Aircraft (NASDAQ:HOVR - Get Free Report) is projected to release its earnings data before the market opens on Thursday, August 21st. Analysts expect New Horizon Aircraft to post earnings of ($0.08) per share for the quarter.

New Horizon Aircraft Stock Performance

HOVR stock opened at $1.62 on Thursday. The company's 50-day simple moving average is $1.63 and its 200 day simple moving average is $0.94. New Horizon Aircraft has a 52 week low of $0.24 and a 52 week high of $2.52.

Insider Transactions at New Horizon Aircraft

In related news, COO Jason Michael O'neill sold 40,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1.72, for a total value of $68,800.00. Following the completion of the transaction, the chief operating officer owned 343,598 shares of the company's stock, valued at $590,988.56. The trade was a 10.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric Brandon Robinson sold 250,000 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $1.75, for a total value of $437,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,067,510 shares of the company's stock, valued at approximately $3,618,142.50. This trade represents a 10.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 10,599 shares of company stock valued at $11,241. 11.10% of the stock is owned by insiders.

Hedge Funds Weigh In On New Horizon Aircraft

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Marshall Wace LLP bought a new position in New Horizon Aircraft Ltd. (NASDAQ:HOVR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 22,514 shares of the company's stock, valued at approximately $38,000. Marshall Wace LLP owned approximately 0.07% of New Horizon Aircraft as of its most recent SEC filing. 65.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on HOVR. D. Boral Capital restated a "buy" rating and issued a $2.00 price target on shares of New Horizon Aircraft in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of New Horizon Aircraft to a "sell" rating in a research note on Saturday, June 14th.

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.

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