New Horizon Aircraft Ltd. (NASDAQ:HOVR - Get Free Report) CEO Eric Brandon Robinson sold 100,000 shares of the company's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $3.42, for a total value of $342,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,372,510 shares of the company's stock, valued at $4,693,984.20. The trade was a 6.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Eric Brandon Robinson also recently made the following trade(s):
- On Tuesday, October 14th, Eric Brandon Robinson sold 140,000 shares of New Horizon Aircraft stock. The stock was sold at an average price of $3.84, for a total value of $537,600.00.
New Horizon Aircraft Trading Down 13.8%
NASDAQ:HOVR traded down $0.50 during trading hours on Thursday, hitting $3.12. 2,503,260 shares of the stock were exchanged, compared to its average volume of 2,070,036. New Horizon Aircraft Ltd. has a 52-week low of $0.25 and a 52-week high of $4.18. The firm's fifty day moving average price is $2.15 and its 200 day moving average price is $1.46. The company has a market cap of $97.94 million, a P/E ratio of 36.20 and a beta of 2.79.
New Horizon Aircraft (NASDAQ:HOVR - Get Free Report) last posted its quarterly earnings data on Friday, October 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03).
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE purchased a new position in shares of New Horizon Aircraft during the second quarter worth $27,000. Marshall Wace LLP purchased a new position in shares of New Horizon Aircraft during the second quarter worth $38,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of New Horizon Aircraft during the second quarter worth $602,000. 65.97% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on HOVR shares. D Boral Capital raised New Horizon Aircraft to a "strong-buy" rating in a report on Wednesday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of New Horizon Aircraft in a report on Wednesday, October 8th. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $11.00 price target on shares of New Horizon Aircraft in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $11.00.
Get Our Latest Research Report on HOVR
About New Horizon Aircraft
(
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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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