New Horizon Aircraft Ltd (NASDAQ:HOVR) price on Wednesday, June 11, rose 19.64% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.34.
A look at the stock’s price movement, the close in the last trading session was $1.12. The PE ratio in trailing twelve months stood at 4.67. Turning to its 52-week performance, $1.63 and $0.24 were the 52-week high and 52-week low respectively. Overall, HOVR moved 170.16% over the past month.
New Horizon Aircraft Ltd’s market cap currently stands at around $42.05 million, with investors looking forward to this quarter’s earnings report slated for in July.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HOVR is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
The technical evaluation for the stock shows the PEG ratio is 0.36, with HOVR’s current price about 46.38% and 105.55% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 74.88, while 7-day volatility ratio is 7.81% and 11.12% in the 30-day chart. Further, New Horizon Aircraft Ltd (HOVR) has a beta value of 2.18, and an average true range (ATR) of 0.14.
If we refocus on New Horizon Aircraft Ltd (NASDAQ:HOVR), historical trading data shows that trading volumes averaged 606.96K over the past 3 months. The company’s latest data on shares outstanding shows there are 31.23 million shares.
The 29.18% of New Horizon Aircraft Ltd’s shares are in the hands of company insiders while institutional holders own 18.51% of the company’s shares. Current price change has pushed the stock 18.58% 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.
