Shares of New Horizon Aircraft Ltd. (NASDAQ:HOVRW – Get Free Report) were up 0.3% on Wednesday. The company traded as high as $0.31 and last traded at $0.3110. Approximately 42,763 shares traded hands during trading, a decline of 22% from the average session volume of 54,914 shares. The stock had previously closed at $0.31.
New Horizon Aircraft Stock Up 8.3%
The firm has a 50 day simple moving average of $0.36 and a 200-day simple moving average of $0.38.
Institutional Trading of New Horizon Aircraft
A hedge fund recently bought a new stake in New Horizon Aircraft stock. Alyeska Investment Group L.P. acquired a new position in shares of New Horizon Aircraft Ltd. (NASDAQ:HOVRW – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,987,536 shares of the company’s stock, valued at approximately $3,915,000.
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. It is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically. The company was founded in 2013 and is headquartered in Lindsay, Canada.
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