New Horizon Aircraft Ltd. (NASDAQ:HOVR) Sees Large Decrease in Short Interest

New Horizon Aircraft Ltd. (NASDAQ:HOVR) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 400,100 shares, a decline of 11.0% from the July 31st total of 449,800 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is presently 0.3 days.

New Horizon Aircraft Stock Up 4.5 %

Shares of HOVR stock traded up $0.04 on Monday, hitting $0.99. The company’s stock had a trading volume of 118,500 shares, compared to its average volume of 547,152. New Horizon Aircraft has a fifty-two week low of $0.46 and a fifty-two week high of $12.14. The firm’s fifty day moving average price is $0.69 and its 200-day moving average price is $1.41.

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. It is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically.