New Horizon Aircraft Ltd. (NASDAQ:HOVR) Major Shareholder Dustin M. Shindo Sells 65,500 Shares

New Horizon Aircraft Ltd. (NASDAQ:HOVR) major shareholder Dustin M. Shindo sold 65,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 of the company’s stock, valued at approximately $641,308.57. The trade was a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

New Horizon Aircraft Stock Up 1.4 %

Shares of HOVR stock opened at $0.51 on Monday. The stock has a 50 day simple moving average of $0.78 and a 200-day simple moving average of $0.64. 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 data on Tuesday, January 14th. The company reported $0.80 EPS for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in New Horizon Aircraft stock. Capital Investment Advisors LLC acquired a new stake in New Horizon Aircraft Ltd. (NASDAQ:HOVR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 25,807 shares of the company’s stock, valued at approximately $29,000. Capital Investment Advisors LLC owned about 0.11% of New Horizon Aircraft as of its most recent filing with the SEC. Institutional investors own 65.97% of the company’s stock.

Analysts Set New Price Targets

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