New Horizon Aircraft Ltd (NASDAQ:HOVR) price on Thursday, December 26, rose 57.75% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.15.
A look at the stock’s price movement, the close in the last trading session was $0.73, moving within a range at $0.6976 and $1.46. The PE ratio in trailing twelve months stood at 2.04. Turning to its 52-week performance, $12.14 and $0.24 were the 52-week high and 52-week low respectively. Overall, HOVR moved 125.53% over the past month.
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New Horizon Aircraft Ltd’s market cap currently stands at around $28.27 million, with investors looking forward to this quarter’s earnings report slated for in January.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HOVR is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
HOVR’s current price about 65.51% and 128.54% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 75.71, while 7-day volatility ratio is 37.25% and 25.86% in the 30-day chart. Further, New Horizon Aircraft Ltd (HOVR) has a beta value of 2.08, and an average true range (ATR) of 0.17.
If we refocus on New Horizon Aircraft Ltd (NASDAQ:HOVR), historical trading data shows that trading volumes averaged 3.04 over the past 10 days and 4.13 million over the past 3 months. The company’s latest data on shares outstanding shows there are 21.52 million shares.
The 37.64% of New Horizon Aircraft Ltd’s shares are in the hands of company insiders while institutional holders own 6.28% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 0.69 million on 2024-11-29, giving us a short ratio of 0.08. The data shows that as of 2024-11-29 short interest in New Horizon Aircraft Ltd (HOVR) stood at 434.0 of shares outstanding, with shares short rising to 0.11 million registered in 2024-10-31. Current price change has pushed the stock -86.18% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HOVR stock continues to rise going into the next quarter.
