New Horizon Aircraft Ltd. (NASDAQ:HOVRW) Sees Significant Decrease in Short Interest

New Horizon Aircraft Ltd. (NASDAQ:HOVRW) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 8,620 shares, a decrease of 62.3% from the December 31st total of 22,881 shares. Based on an average daily trading volume, of 92,014 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 92,014 shares, the short-interest ratio is currently 0.1 days.

New Horizon Aircraft Stock Performance

NASDAQ:HOVRW traded down $0.04 on Thursday, reaching $0.37. 239,867 shares of the stock traded hands, compared to its average volume of 86,101. New Horizon Aircraft has a 1-year low of $0.03 and a 1-year high of $0.86. The company’s 50 day moving average is $0.42 and its 200-day moving average is $0.37.

About New Horizon Aircraft

New Horizon Aircraft Ltd., an aerospace original equipment manufacturer company, focuses on designing and developing hybrid electric vertical takeoff and landing (eVTOL) aircraft for the regional air mobility market. It is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically. The company was founded in 2013 and is headquartered in Lindsay, Canada.