The trading price of New Horizon Aircraft Ltd (NASDAQ:HOVR) closed higher on Friday, December 06, and closing at $0.73, 3.67% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $0.68 and $0.77. The company’s P/E ratio in the trailing 12-month period was 1.29. In examining the 52-week price action we see that the stock hit a 52-week high of $12.14 and a 52-week low of $0.24. Over the past month, the stock has gained 166.69% in value.
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New Horizon Aircraft Ltd, whose market valuation is $18.48 million at the time of this writing, is expected to release its quarterly earnings report in January. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0 per share this quarter, however they have predicted annual earnings per share of -0.25 for current year and -0.27 for next year.
On the technical side, indicators suggest HOVR has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently Hold.
A quick review shows that HOVR’s price is currently 31.95% off the SMA20 and 76.70% off the SMA50. The RSI metric on the 14-day chart is currently showing 65.39, and weekly volatility stands at 23.42%. When measured over the past 30 days, the indicator reaches 25.12%. New Horizon Aircraft Ltd (NASDAQ:HOVR)’s beta value is currently sitting at 2.14, while the Average True Range indicator is currently displaying 0.12.
To see how New Horizon Aircraft Ltd stock has been performing in comparison to its peers in the industry, here are the numbers: HOVR stock’s performance was 3.67% in the latest trading, and -93.13% in the past year. New Horizon Aircraft Ltd has a P/E ratio of 1.29.
An evaluation of the daily trading volume of New Horizon Aircraft Ltd (NASDAQ:HOVR) indicates that the 3-month average is 3.81 million. However, this figure has increased over the past 10 days to an average of 5.22.
Currently, records show that 21.52 million of the company’s shares remain outstanding. The insiders hold 30.33% of outstanding shares, whereas institutions hold 6.28%. The stats also highlight that short interest as of 2024-11-15, stood at 0.84 million shares, resulting in a short ratio of 0.13 at that time. From this, we can conclude that short interest is 532.00 of the company’s total outstanding shares. It is noteworthy that short shares in November were up slightly from the previous month’s figure, which was 0.12 million. However, since the stock’s price has seen -91.28% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
