The trading price of New Horizon Aircraft Ltd (NASDAQ:HOVR) closed lower on Monday, June 16, and closing at $1.84, -1.60% lower than its previous close.
The company’s P/E ratio in the trailing 12-month period was 6.41. In examining the 52-week price action we see that the stock hit a 52-week high of $2.32 and a 52-week low of $0.24. Over the past month, the stock has gained 212.39% in value.
New Horizon Aircraft Ltd, whose market valuation is $57.75 million at the time of this writing, is expected to release its quarterly earnings report in July. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest HOVR has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0.50, which symbolizes a positive outlook. A quick review shows that HOVR’s price is currently 69.96% off the SMA20 and 154.41% off the SMA50. The RSI metric on the 14-day chart is currently showing 82.42, and weekly volatility stands at 15.07%. When measured over the past 30 days, the indicator reaches 11.77%. New Horizon Aircraft Ltd (NASDAQ:HOVR)’s beta value is currently sitting at 2.10, while the Average True Range indicator is currently displaying 0.22.
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 -1.60% in the latest trading, and 104.44% in the past year. New Horizon Aircraft Ltd has a P/E ratio of 6.41.
An evaluation of the daily trading volume of New Horizon Aircraft Ltd (NASDAQ:HOVR) indicates that the 3-month average is 998.50K.
Currently, records show that 31.23 million of the company’s shares remain outstanding. The insiders hold 28.96% of outstanding shares, whereas institutions hold 18.51%. However, since the stock’s price has seen 62.83% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
