New Horizon Aircraft Ltd (NASDAQ:HOVR) shares, rose in value on Friday, November 22, with the stock price up by 15.91% to the previous day’s close as strong demand from buyers drove the stock to $0.54.
Actively observing the price movement in the recent trading, the stock is buoying the session at $0.47, falling within a range of $0.4501 and $0.549. The PE ratio was 0.96 over 12-month period. Referring to stock’s 52-week performance, its high was $12.14, and the low was $0.24. On the whole, HOVR has fluctuated by 77.54% over the past month.
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With the market capitalization of New Horizon Aircraft Ltd currently standing at about $13.25 million, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that HOVR’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of HOVR currently trading nearly 41.19% and 33.65% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.20, while the 7-day volatility ratio is showing 19.33% which for the 30-day chart, stands at 17.83%. Furthermore, New Horizon Aircraft Ltd (HOVR)’s beta value is 0.62, and its average true range (ATR) is 0.08.
A comparison of New Horizon Aircraft Ltd (HOVR) with its peers suggests the former has fared considerably weaker in the market. HOVR showed an intraday change of 15.91% in today’s session so far, and over the past year, it shrunk by -94.89%%.
Data on historical trading for New Horizon Aircraft Ltd (NASDAQ:HOVR) indicates that the trading volumes over the past 10 days have averaged 15.43 and over the past 3 months, they’ve averaged 3.00 million. According to company’s latest data on outstanding shares, there are 18.61 million shares outstanding.
Nearly 30.33% of New Horizon Aircraft Ltd’s shares belong to company insiders and institutional investors own 11.09% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.11 million shares as on 2024-10-31, resulting in a short ratio of 0.15. According to the data, the short interest in New Horizon Aircraft Ltd (HOVR) stood at 83.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 0.13 million. The stock has fallen by -93.52% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HOVR stock heading into the next quarter.
