New Horizon Aircraft (NASDAQ:HOVR) Posts Earnings Results

New Horizon Aircraft (NASDAQ:HOVR) released its quarterly earnings results on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, Zacks reports.

New Horizon Aircraft Price Performance

NASDAQ HOVR opened at $0.42 on Monday. The business has a fifty day moving average price of $0.52 and a 200 day moving average price of $0.57. New Horizon Aircraft has a one year low of $0.24 and a one year high of $2.60.

Insiders Place Their Bets

In other news, major shareholder Dustin M. Shindo sold 75,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $0.50, for a total value of $37,500.00. Following the transaction, the insider now directly owns 1,394,368 shares of the company’s stock, valued at approximately $697,184. This trade represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 167,870 shares of company stock valued at $84,953 in the last 90 days. 11.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital reiterated a “buy” rating and issued a $2.00 target price on shares of New Horizon Aircraft in a research 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.