New Horizon Aircraft Ltd. (NASDAQ:HOVRW) Sees Significant Growth in Short Interest

New Horizon Aircraft Ltd. (NASDAQ:HOVRWGet Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 163,100 shares, an increase of 23.0% from the September 30th total of 132,600 shares. Based on an average daily trading volume, of 28,500 shares, the days-to-cover ratio is presently 5.7 days.

New Horizon Aircraft Stock Performance

Shares of HOVRW remained flat at $0.01 during midday trading on Wednesday. The stock had a trading volume of 226 shares, compared to its average volume of 55,431. New Horizon Aircraft has a 12-month low of $0.01 and a 12-month high of $0.10. The company’s 50-day moving average is $0.02 and its two-hundred day moving average is $0.03.

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

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