New Horizon Aircraft (NASDAQ:HOVR) CEO Eric Brandon Robinson Sells 140,000 Shares

Key Points

• Eric Brandon Robinson, CEO of New Horizon Aircraft, sold 140,000 shares at an average price of $3.84, significantly reducing his position by 8.68%.
• After the transaction, Robinson retains 1,472,510 shares valued at approximately $5.65 million.
• The company's stock, currently priced at $3.12, recently reported a quarterly loss of $0.11 per share, missing analysts' expectations.

New Horizon Aircraft Ltd. (NASDAQ:HOVR - Get Free Report) CEO Eric Brandon Robinson sold 140,000 shares of the business's stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $3.84, for a total value of $537,600.00. Following the transaction, the chief executive officer owned 1,472,510 shares in the company, valued at $5,654,438.40. The trade was a 8.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Eric Brandon Robinson also recently made the following trade(s):

• On Wednesday, October 15th, Eric Brandon Robinson sold 100,000 shares of New Horizon Aircraft stock. The stock was sold at an average price of $3.42, for a total value of $342,000.00.

New Horizon Aircraft Stock Performance

HOVR stock traded down $0.50 on Thursday, reaching $3.12. The company had a trading volume of 2,503,260 shares, compared to its average volume of 2,070,036. New Horizon Aircraft Ltd. has a 1 year low of $0.25 and a 1 year high of $4.18. The company has a market cap of $97.94 million, a P/E ratio of 36.20 and a beta of 2.79. The company's fifty day moving average is $2.15 and its 200 day moving average is $1.46.

New Horizon Aircraft (NASDAQ:HOVR - Get Free Report) last issued its quarterly earnings results on Friday, October 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.03).

Analyst Ratings Changes

HOVR has been the topic of several research reports. D Boral Capital raised New Horizon Aircraft to a "strong-buy" rating in a research report on Wednesday. D. Boral Capital reaffirmed a "buy" rating and issued a $11.00 target price on shares of New Horizon Aircraft in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of New Horizon Aircraft in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, New Horizon Aircraft has an average rating of "Buy" and a consensus price target of $11.00.

Institutional Trading of New Horizon Aircraft

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in New Horizon Aircraft in the 2nd quarter valued at $27,000. Marshall Wace LLP acquired a new stake in shares of New Horizon Aircraft during the second quarter valued at about $38,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of New Horizon Aircraft during the second quarter valued at about $602,000. 65.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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