New Horizon Aircraft Ltd. (NASDAQ:HOVR) Major Shareholder Sells $32,095.00 in Stock

New Horizon Aircraft Ltd. (NASDAQ:HOVR) major shareholder Dustin M. Shindo sold 65,500 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $0.49, for a total value of $32,095.00. Following the transaction, the insider now directly owns 1,308,793 shares in the company, valued at approximately $641,308.57. This represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

New Horizon Aircraft Price Performance

Shares of NASDAQ HOVR opened at $0.51 on Friday. The stock’s 50-day moving average is $0.78 and its 200 day moving average is $0.65. New Horizon Aircraft Ltd. has a 1-year low of $0.24 and a 1-year high of $3.29.

New Horizon Aircraft (NASDAQ:HOVR) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.80 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On New Horizon Aircraft

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Virtu Financial LLC purchased a new position in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 41,761 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned about 0.13% of New Horizon Aircraft at the end of the most recent reporting period. Hedge funds and other institutional investors own 65.97% of the company’s stock.

Analysts Set New Price Targets

Separately, D. Boral Capital reissued a “buy” rating and set a $2.00 price objective on shares of New Horizon Aircraft in a report on Wednesday, January 15th.

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.