New Horizon Aircraft Ltd (NASDAQ:HOVR) price closed higher on Tuesday, November 12, and jumping 13.86% above its previous close.
A look at the daily price movement shows that the last close reads $0.45, with intraday deals fluctuated between $0.393 and $0.535. The company’s P/E ratio in the trailing 12-month period read 0.91. Taking into account the 52-week price action we note that the stock hit a 52-week high of $12.14 and 52-week low of $0.24. The stock added 71.67% on its value in the past month.
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New Horizon Aircraft Ltd, which has a market valuation of $12.65 million, is expected to release its quarterly earnings report in December.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give HOVR a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
The overview shows that HOVR’s price is at present 58.93% off the SMA20 and 12.51% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 70.55, with weekly volatility standing at 29.52%. The indicator jumps to 16.14% when calculated based on the past 30 days. New Horizon Aircraft Ltd (NASDAQ:HOVR)’s beta value is holding at 0.82, while the average true range (ATR) indicator is currently reading 0.07.
An analysis of the New Horizon Aircraft Ltd (NASDAQ:HOVR) stock in terms of its daily trading volume indicates that the 3-month average is 2.71 million. However, this figure increases on the past 10-day timeline to an average of 13.75 million.
Current records show that the company has 18.61M in outstanding shares. The insiders’ percentage holdings are 34.82% of outstanding shares while the percentage share held by institutions stands at 13.37%. The stats also highlight that short interest as of 2024-10-15, stood at 0.12 million shares, which puts the short ratio at the time at 0.13. From this we can glean that short interest is 90.00 of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 0.34 million. But the -93.81% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
